ING Picks Kabbage to Expand Small-Business Lending in Europe
- Partnership will begin in Spain and expand to other countries
- Agreement follows equity investment from ING in Kabbage
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ING Groep NV is pegging some of its future growth in Europe on a startup that’s been lending for four years.
The Dutch bank said Wednesday that it’s partnering with Kabbage Inc., an Atlanta-based firm that arranges loans online in minutes, to extend credit in Spain. The companies said they plan to eventually expand the program to other countries on the Continent, without specifying how much funding they’re committing to the effort.