Lloyds Banking Group, the operator behind Britain’s largest retail bank Lloyds, has gone through with a £120 million deal to acquire digital wallet provider Curve. Although an official announcement has yet to be made, a report from Sky News claims Curve has already notified its investors that it has signed a share sale and purchase agreement with Lloyds Banking Group. For those unaware, Curve is a financial technology company founded in London in 2015 by Shachar Bialick. It offers a smart wallet and all-in-one card solution that allows users to consolidate multiple bank cards into a single interface and manage payments, budgeting, and rewards across more than 30 markets throughout the UK and Europe. According to a circular cited by Sky News, Curve has acknowledged that the value of the deal falls short of the ambitions originally set for the company, and has expressed disappointment over the outcome. The £120 million figure that Lloyds is expected to pay is reportedly lower than Curve’s last funding round valuation of £133 million, and that has rattled several of the fintech’s early backers. Curve shareholders have grown increasingly frustrated , with tensions escalating to the point that some investors even sought the removal of Lord Fink as chairman of the board and Shachar Bialick as the chief executive. “We recognise that the value of this transaction falls short of the ambitions we all held for Curve, and we share the disappointment some of you may have in this outcome. Yet, the board strongly believes this transaction represents the best available path forward for Curve’s creditors and shareholders as a whole,” Curve was quoted as saying. One of the firm’s more vocal stakeholders, IDC Ventures, which holds a 12% stake, issued a statement last week saying it “does not intend to support the proposed sale” as it was not in the best interests of the company or its shareholders. “It is a matter of real surprise to shareholders that Lloyds Banking Group, a leading UK institution, would contemplate proceeding with a transaction that IDC believes is not in the best interests of the company or its shareholders,” IDC said in its statement. Reports that Lloyds was interested in Curve first surfaced in July 2025, as previously covered on Invezz. Llyod Group’s cautious approach to crypto Lloyds’ approach when it comes to the crypto market has been one marked by a blend of consumer protection and measured innovation. Since banning cryptocurrency purchases via credit cards back in 2018, the banking group has taken an increasingly cautious stance with retail-facing crypto transactions and has even issued repeated warnings regarding scams and fraud, particularly those targeting customers on social media platforms. However, the bank has also explored the potential of blockchain technology to improve its internal systems. It has partnered with firms like Aberdeen Investments and Archax to pilot tokenized asset settlements, and has backed other startups focused on digital identity and distributed ledger innovation. The post Lloyds Banking Group signs £120m deal to acquire digital wallet provider Curve appeared first on Invezz
