Recruit Holdings invests in Kabbage, Inc.,leading technology and data platform that provides automated lending
Oct. 15, 2015
Recruit Holdings Co., Ltd.
Recruit Holdings Co., Ltd. (Recruit; Headquarters: Chiyoda-ku, Tokyo; President and CEO Masumi Minegishi) has invested in Kabbage, Inc. (Headquarters: Atlanta, USA; CEO: Robert J. Frohwein), a corporation that provides online lending services for individuals and small and medium-sized businesses, through its investment subsidiary RSP Fund No. 6, LLC, operated by Recruit Strategic Partners Co., Ltd.
1.Goal of this investment and collaboration
Recruit is paying careful attention to fintech,* where innovations are occurring as IT revolutions. Through this investment we intend to work together with the company to popularize online lending, which is predicted to expand globally going forward. Kabbage, Inc. intends to both accelerate global development and develop new products after this investment.
* Fintech is derived from "finance" and "technology" and is a service field combining them.
2. Overview of Kabbage, Inc.
Kabbage, Inc. has expanded unsecured online lending services in USA, UK, and Australia with "Kabbage" (for SMB) and "Karrot" (for individuals). It is characterized by a proprietary credit examination system that collects and analyzes all types of online data, and utilization of an automated financing operation system. These make it possible to provide credit line in a short period of time to individuals and SMB for whom credibility assessments are difficult. Since commencing service in 2009, they have provided over $1 billion in financing
|(1)||Company name||Kabbage, Inc.|
|(2)||Representative||Robert J . Frohwein|
|(3)||Headquarters||730 Peachtree Street Suite 350 Atlanta, GA 30308 USA|
|(4)||Established||February 12, 2009|
|(5)||Main business||Fully automated lending to SMB and simple consumer loans|
3.Overview of RSP Fund No. 6, LLC
|(1)||Company name||RSP Fund No. 6, LLC|
|(3)||Headquarters||8-4-17 Ginza, Chuo-ku, Tokyo|
|(4)||Established||November 12, 2014|
|(5)||Main business||Investment development and venture capital|
|(6)||Operating Company||Recruit Strategic Partners
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