Lloyds Banking Group is now in the advanced stages of talks to acquire Curve, a well-known financial technology company. The deal, according to sources cited by Sky News, could close as soon as September 2025. The estimated value of the transaction stands at around £120 million. Curve is a strategic addition that Lloyds believes would let it play a bigger part in the expanding payments infrastructure market.

Founded in 2016 by Shachar Bialick, a former Israeli special forces soldier, Curve has quickly built a name for itself in digital payments. It competes directly with Apple Pay by offering a digital wallet service that allows users to combine multiple bank cards into a single, secure platform. Curve customers can avoid foreign exchange fees and collect rewards, which adds further appeal to the service. The company serves over six million customers and handles billions in payments every year across the UK and the European Economic Area.

For Lloyds, this acquisition holds strategic significance. The European Union currently pressures Apple to open its payment services to other platforms. This regulatory shift could allow Lloyds to benefit from acquiring Curve, offering its customers a direct alternative to Apple Pay and reducing reliance on Apple’s payment fees. In the framework of its larger fintech investment strategy, Lloyds also considers Curve to be a financially stable asset.

Although Curve’s valuation reached £133 million in its 2023 Series C funding round, the potential acquisition price falls slightly below that. Despite this, Curve remains valuable. Since its inception, the company has raised more than £200 million from investors like Britannia, IDC Ventures, Cercano Management, and Outward VC. Yet, last year, Curve faced some operational challenges. It reduced its workforce and paused expansion plans in the US market.

Lloyds Banking Group, led by chief executive Charlie Nunn, considers technology expansion a core part of its strategy. The group already holds stakes in multiple fintech firms. By acquiring Curve, Lloyds aims to strengthen its payments infrastructure and offer a competitive digital wallet alternative. The acquisition supports its long-term plan to build more efficient, cost-effective digital payment solutions for its customers.