Quick Take
LendingTree (TREE), the technology-enabled digital media company, has acquired certain non-lending assets SnapCap for $21 million, which consists of $12 million in cash at closing, and contingent consideration payments of up to $9 million.
SnapCap provides hybrid loans to small businesses via a ‘concierge approach’ that doesn’t use traditional credit scores for loan underwriting decisions.
The acquisition of certain assets of SnapCap will help LendingTree scale and accelerate its small business channel.
