Lloyds, a UK-based lender, reportedly aims to acquire fintech company Curve for GBP 120 million and is expected to announce the deal soon.

Details of the Deal

According to Sky News and City sources, Lloyds and Curve agreed on the terms during the first weekend of September 2025. Discussions have been ongoing since July 2025.

Motivation Behind the Acquisition

Lloyds sees value in Curve’s digital wallet platform given current regulatory pressures on Apple to open its payment services for other industry participants. Lloyds, known for its Halifax brand and a network of over 700 branches, views this as strategic for optimizing its payment infrastructure.

Additionally, Lloyds is involved with several fintech companies, including the BaaS platform Thought Machine, while also working to enhance its technological capabilities.

The timing of the potential acquisition comes just before Chancellor Rachel Reeves plans to unveil proposals to boost the UK’s fintech sector through a matchmaking service for startups and investors.