Barclays Bank Delaware × Best Egg, Inc.
Barclays' US consumer banking subsidiary agreed to acquire Best Egg, a fintech platform for personal loans, for $800 million. [70, 71] The deal provides Barclays with a scaled, proven platform in the US consumer finance market, acquiring its digital origination and risk management capabilities. [71, 73] Best Egg, which originated as Marlette Funding, is expected to continue operating under its own brand post-acquisition. [74, 75]
The asset
Acquisition of a direct-to-consumer personal loan origination platform, including its digital and risk capabilities, which has facilitated over $40 billion in loans. [70, 71, 72]
- 11B serviced personal loans
- 2M customers to date
The record
- Seller status
- Going concern
- Sector
- Fintech personal loan origination
- Modalities
- credit data, loan origination platform
- Jurisdiction
- US
What it means if you hold data
This acquisition shows a major bank buying, rather than building, a complete fintech lending platform to gain immediate scale and access to a new consumer base and its associated credit data. [72] It highlights the value of capital-light, fee-based lending models that have a proven track record of managing credit risk, making them attractive targets for established financial institutions. [74]