Small business working capital provider Kabbage announced in a December 4 press release that it will now leverage Square’s payment processing data in its decision-making.
Kabbage will utilize the data when underwriting and delivering funding to small businesses. In a statement, Rob Frohwein, Kabbage’s co-founder and CEO, said that the move strengthens the company’s data platform.
“Making funding available based on Square transactional data demonstrates the flexibility and power of our data platform,” Frohwein remarked.
The move reflects Square’s expanding role in small business finance, a development which could shape the company’s decision to go public next year. To learn more about Square’s potential 2014 IPO, read our coverage on the topic by clicking here.
“What’s Hot” is aggregated content. PYMNTS.com claims no responsibility for the accuracy of the content published by the original source.