The Amex executive who will be tasked with overseeing Kabbage's integration into the card giant said the recently-announced deal highlights Amex's intentions to build up its offerings to small businesses.
"This acquisition will expand our digital class cash-flow management offerings for small businesses," Anna Marrs, president of global commercial services at Amex, told Business Insider. "Our vision and mission has always been to help small businesses focus on the things they do well and really give them the financial tools they need to manage cash flow over time," Rob Frohwein, cofounder and CEO of Kabbage, told Business Insider.
While the terms of the deal were not disclosed, Bloomberg previously reported Amex could be paying as much as $850 million for Kabbage.
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