Barclays has agreed to acquire Best Egg, a prominent personal loan originator, in an $800 million transaction aimed at strengthening its foothold in the U.S. consumer finance market. The deal marks a significant expansion of Barclays’ retail banking operations in the United States, positioning the bank to capture a larger share of the growing unsecured lending sector.
Founded in 2013 and headquartered in Wilmington, Delaware, Best Egg has emerged as one of the country’s leading digital lending platforms, having originated more than $40 billion in personal loans to date. The company serves more than two million customers across the United States, offering unsecured personal loans and financial wellness tools designed to help consumers improve their credit and manage debt responsibly.
Under the terms of the agreement, Barclays intends to maintain Best Egg’s existing leadership team and preserve its operational independence. The U.K.-based bank plans to leverage Best Egg’s capital-light, technology-driven origination model to scale its presence in unsecured consumer lending, complementing its existing co-branded credit card and installment loan businesses in the U.S.
The acquisition aligns with Barclays’ long-term strategy to diversify its revenue base, deepen its direct-to-consumer relationships, and strengthen its capabilities in digital finance. Best Egg’s advanced data analytics, underwriting technology, and customer engagement platform are expected to accelerate Barclays’ efforts to build a broader and more integrated consumer finance ecosystem.
The combination will create a more robust platform for offering credit and financial products to U.S. consumers, backed by Barclays’ global balance sheet strength and Best Egg’s proven ability to originate high-quality loans efficiently. The integration is also expected to generate operational synergies and provide both institutions with new opportunities to cross-sell products, expand digital offerings, and enhance customer experience.
Barclays’ acquisition of Best Egg represents one of its most significant U.S. retail banking moves in recent years and highlights its renewed focus on expanding consumer lending capabilities beyond its traditional credit card base. The transaction remains subject to customary closing conditions and regulatory approvals. Upon completion, Best Egg will operate as a wholly owned subsidiary of Barclays Bank Delaware, continuing to serve its customers under the Best Egg brand while gaining access to Barclays’ capital resources and international expertise.
KEY QUOTES
“The deep and sophisticated US consumer finance market offers rich prospects for growth at Barclays. The Transaction will strengthen our US Consumer Bank and offers an exciting opportunity to significantly bolster our capabilities in personal lending.”C.S. Venkatakrishnan, Group Chief Executive, Barclays
“This acquisition represents a significant step forward in our strategy to grow and diversify our US consumer banking business. As a leader in the personal loans market, Best Egg gives us the ability to reach more US consumers through a proven platform that has been successful for over a decade.”Denny Nealon, CEO, Barclays US Consumer Bank
“Joining forces with Barclays marks a pivotal moment in our journey – one that amplifies our ability to reach even more people through innovative lending solutions that truly make a difference.”Paul Ricci, CEO, Best Egg
