American Express is acquiring the team and technology of Kabbage, an online lender for small business.

AmEx will get Kabbage's full range of financial technology products which includes bill payment, cash flow visualization tools, e-gift certificates, a data platform and IP that was designed for small businesses, according to a Finextra report.

AmEx is also acquiring Kabbage's ability to centralize funds through business checking accounts, but the company's pre-existing loan portfolio was not part of the acquisition.

"This acquisition accelerates our plans to offer US small businesses an easy and efficient way to manage their payments and cash flow digitally in one place, which is more critical than ever in today's environment," Anna Marrs, president, global commercial services, AmEx, told Finextra. "By bringing together Kabbage's innovative technology and talented team with our broad distribution capabilities and over 60 years of experience backing small businesses, we can better help our customers successfully emerge from this challenging period and beyond."