Seeking to be more involved in auto financing, the firm has launched Clearlane; the platform has been developed from the firm's acquisition of BlueYield; the integration and enhancement of the acquired business has resulted in a simplified customer experience and broad range of offerings; the platform includes over a dozen finance providers offering consumers auto financing and auto loan refinancing options with various opportunities identified for expansion. Source
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Kabbage is reportedly considering an acquisition of small business online lender OnDeck; S&P Global analyzes a potential merger between the two firms which has high value deal prospects including combined 2016 SME loan originations of $3.82 billion, costs savings from similar balance sheet and securitization funding sources, and similar success in technology licensing partnerships, overall resulting in increased margins, earnings and more competitive terms to borrowers; the valuation metrics and negotiation factors are the main constraints to a potential deal; the minimum enterprise value reported by S&P Global is $291.7 million which is below its current market cap of $372.4 million and far below its original IPO valuation of $1.3 billion; key factors to watch for 2017 will be OnDeck's forecasted EBITDA and fundraising obtained by Kabbage. Source