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SoftBank to invest $250m in US fintech startup Kabbage

Small-business lender is latest venture to get Japanese tech group's backing

SoftBank's investments have taken it far beyond its domestic wireless business.

TOKYO -- Japan's SoftBank Group will buy into a U.S. financial technology company offering loans to small and midsize businesses.

The $250 million investment in Kabbage, announced Thursday by the Atlanta-based lender, is expected to be completed by the end of September. Whether the shares will be transferred to the SoftBank Vision Fund, a $93 billion venture capital fund led by the Japanese technology company and Saudi Arabia, has yet to be determined.

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