London fintech Curve confirms sale to Lloyds

London-based fintech Curve has been acquired by Lloyds Banking Group in a move that signals the growing integration of innovative financial technology with established banking institutions. The deal, confirmed by both companies, is aimed at broadening and accelerating Lloyds' digital transformation efforts and enhancing its mobile banking services. This acquisition highlights the ongoing evolution of the fintech landscape in Europe and the strategic value of digital wallet technology. The acquisition price is reported to be £120 million, although the financial details were not officially disclosed. Curve, founded in 2015, has amassed approximately six million users and raised over £230 million in funding from investors, including Fuel Ventures, IDC Ventures, Outward VC, and Hanaco Ventures. For Curve's existing customers, the transition is intended to be seamless, with their app, wallet, cards, and rewards remaining unchanged. The primary impact of the acquisition will be felt by Lloyds' 28 million customers, who are expected to benefit from an enhanced payments experience within mobile banking. However, the deal has faced scrutiny, particularly from some investors, such as IDC Ventures, who have raised concerns about the sale process and shareholder interests. The completion of the deal is anticipated in the first half of 2026. This acquisition demonstrates the strategic importance of fintech solutions in modernizing traditional financial services and the potential for these partnerships to drive digital innovation in the European market. It will be interesting to see how the integration of Curve’s technology shapes Lloyds’ future offerings.