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8/17/2020, 6:09 PM (Source: TeleTrader)
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Amex to acquire fintech company Kabbage

American Express (Amex) announced on Monday it reached an agreement to acquire financial technology company Kabbage, whose products include online bill payment, cash flow visualization tools, e-gift certificates, and the ability to centralize funds.

The financial terms of the deal were not disclosed.

"This acquisition accelerates our plans to offer US small businesses an easy and efficient way to manage their payments and cash flow digitally in one place," Amex' head of Global Commercial Services, Anna Marrs, stated.

Breaking the News / NP