Lloyds to acquire Curve in $161.2m digital wallet deal

By Vriti Gothi

Lloyds Banking Group to acquire Curve, a digital wallet FinTech, for around $161.2 million by the end of September to help make everyday banking simpler and more convenient for its customers.

Founded in 2015, Curve has emerged as a leader in digital wallet innovation, enabling customers to consolidate multiple payment cards into a single smart card, complemented by an expanding suite of payment wearables, including rings, bracelets, keychains, and watch straps. Today, Curve serves more than six million customers worldwide and continues to attract strategic investment, having secured £37 million in fresh funding earlier this year in a round led by Hanaco Ventures, with continued backing from prominent investors such as Lord Stanley Fink, who was appointed Chair of Curve’s Board in January.

If concluded, this acquisition would mark a significant milestone in Lloyds Banking Group’s digital transformation journey, enhancing its capabilities in the fast-evolving payments ecosystem and reinforcing its position as a trusted partner in the daily financial lives of millions.

The potential integration of Curve’s technology would enable Lloyds Banking Group to offer customers even greater control over their finances, delivering frictionless payment experiences and innovative tools for spending and budgeting, all while maintaining the robust security standards and trusted service the Group is known for.

As Lloyds Banking Group continues to build a digitally led financial ecosystem, this proposed acquisition would further accelerate the development of next-generation products and services that empower customers to manage their money on their terms.

While Lloyds Banking Group declined to comment further at this stage, the discussions with Curve signal a clear intent to stay at the forefront of digital payments innovation and set new benchmarks for customer experience in UK banking.