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Recruit joins funding round for online lender

October 15, 2015

Recruit Holdings Co., the world’s sixth-largest staffing firm, joined other investors in the latest round of funding for Atlanta-based Kabbage Inc., an online platform that provides automated lending. The $135 million equity raise was led by Reverence Capital Partners as well as ING, Santander InnoVentures and Scotiabank. Recruit was a new investor in Kabbage; another new investor in the deal was China’s Yuan Capital. Several existing investors joined the round as well.

Total equity raised by Kabbage is now more than $240 million.

“Through this investment we intend to work together with the company to popularize online lending, which is predicted to expand globally going forward,” according to Recruit.

In addition to staffing, Recruit also has a publishing business that covers employer, housing, marriage and more. Recruit has also invested in other technology companies. In July, Recruit announced it invested in HackerRank, a technical recruitment platform. It also invested in Fishbrain, an online fishing site, in July. And in June, it acquired Treatwell Holdings BV, a European online hair and beauty marketplace.