Loan platform Kabbage — which offers quick assessment and approvals for small business loans using machine learning algorithms that pull data from dozens of sources — has closed another large securitization as it continues to grow its operations. The company said it has closed an asset-backed securitization of $700 million, which it says it the largest transaction of its kind for an online lending platform focused on small businesses.

Valued at more than $1.2 billion after raising a big round from SoftBank in 2017, the company has been picking up momentum in recent years, through its own direct-to-business proposition as well as through white-label services and partnerships such as the recent deal it struck with Alibaba to offer loans to merchants buying on its platform.

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