Barclays to acquire loan origination platform Best Egg for $800m

News Source : Retailbankerinternational.com

News Summary

UK-based lender Barclays has unveiled its plans to acquire Best Egg, a US-based personal loan origination platform, for $800m.
The acquisition will be executed through Barclays’ US subsidiary, Barclays Bank Delaware, operating as Barclays US Consumer Bank (USCB) Established in 2013, Best Egg has emerged as a significant player in the direct-to-consumer personal loan market, focusing on prime borrowers.
Barclays plans to continue Best Egg’s model and retain a small portion of its new lending flow on its balance sheet.

UKbased lender Barclays has unveiled its plans to acquire Best Egg, a USbased personal loan origination platform, for $800m.The acquisition will be executed through Barclays US subsidiary, Barcla [+3735 chars]

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