Lloyds in Advanced Talks to Acquire Fintech Firm Curve for £120M

Lloyds Banking Group is in talks to acquire digital wallet provider Curve for up to £120m. The deal could be announced by the end of September and aims to expand Lloyds' presence in payments infrastructure. Curve, launched in 2016, offers a bank card and app that consolidates all accounts in one place. The acquisition comes amid regulatory pressure on Apple to open its payment services to competitors.

Lloyds Banking Group plc is in advanced discussions to acquire digital wallet provider Curve for up to £120 million ($162 million), according to Sky News [2]. The potential deal could be announced by the end of September, with Lloyds aiming to expand its presence in payments infrastructure. Curve, launched in 2016, offers a bank card and app that consolidates all users' accounts in one place.

The acquisition comes amid regulatory pressure on Apple to open its payment services to competitors. Curve, which raised £133 million in its Series C funding round in 2023, has faced challenges including cutting its employee count and suspending its US expansion earlier this year. Lloyds declined to comment on the potential acquisition, while Curve did not respond to Sky’s request for comment.

Lloyds Banking Group, founded in 1695 and based in London, provides a range of banking and financial products and services in the United Kingdom and internationally. The company operates through three segments: Retail, Commercial Banking, and Insurance, Pensions and Investments. The Retail segment offers financial service products to personal customers, while the Commercial Banking segment serves small and medium businesses, corporates, and institutions. The Insurance, Pensions and Investments segment offers insurance, investment, and pension management products and services.

The potential acquisition of Curve aligns with Lloyds' strategy to enhance its digital banking services and compete in the growing fintech sector. This move comes as the UK government is expected to announce plans to bolster the fintech sector, including a concierge service for international investors, in Chancellor of the Exchequer Rachel Reeves' Mansion House speech next week.

References:
[1] https://finance.yahoo.com/quote/LLDTF/
[2] https://www.bloomberg.com/news/articles/2025-07-12/lloyds-in-talks-to-buy-fintech-firm-curve-for-120m-sky-says