Barclays to Acquire Best Egg in an $800 Million Move to Strengthen Its US Consumer Banking Arm

In a strategic step to expand its foothold in the United States, Barclays US Consumer Bank, a wholly owned subsidiary of the UK-based banking powerhouse Barclays, has announced its intent to acquire Best Egg, a Delaware-based consumer lending fintech, in a deal valued at $800 million.

The acquisition, still subject to customary regulatory approvals and closing conditions, represents one of Barclays’ most significant plays in the US retail finance sector in recent years. It is expected to reinforce the bank’s consumer banking ecosystem, enhance its digital capabilities, and diversify its lending portfolio across key growth areas.

A Strategic Fit for Barclays’ US Vision

Barclays described the acquisition as a natural extension of its partnership-driven credit card business, which already provides unsecured personal loans through multiple co-brand programs. By integrating Best Egg’s technology and lending platform, Barclays aims to unlock greater flexibility in the deployment of capital and lending capacity while strengthening its presence in the personal loans segment.

Denny Nealon, CEO of Barclays US Consumer Bank, emphasized that the acquisition is a pivotal step in the bank’s long-term growth strategy.

“This acquisition represents a significant step forward in our strategy to grow and diversify our US consumer banking business,” said Nealon.

The move signals Barclays’ ambition to not just participate, but to lead in the increasingly competitive digital lending landscape, where consumer expectations for speed, personalization, and accessibility continue to evolve rapidly.

Best Egg: A Fintech Growth Story

Founded in 2013, Best Egg has established itself as one of the most recognized names in consumer lending. Over the past decade, the company has facilitated more than $40 billion in personal loans, serving millions of customers seeking affordable, fast, and transparent credit options.

Best Egg’s technology-driven approach to underwriting and customer engagement has been at the core of its success. The platform combines advanced data analytics, AI-powered credit assessment, and customer-first design, allowing it to deliver loans with efficiency and trustworthiness.

Looking ahead, Barclays estimates that Best Egg is poised to facilitate over $7 billion in personal loan originations in 2025 alone, underscoring the fintech’s strong growth trajectory and market relevance.

Expanding Capacity Through Strategic Funding

Best Egg has also taken significant steps to expand its lending capabilities. In October 2023, the company secured a $500 million purchase facility to strengthen its personal loan portfolio. This was followed by a $1 billion purchase facility in December 2023, dedicated to vehicle equity loans — signaling the firm’s commitment to product diversification.

Earlier this year, Best Egg announced its partnership with Column Bank, further enhancing its banking infrastructure and lending scalability. These developments positioned the company as a robust and agile player in the fintech lending ecosystem — making it a perfect fit for Barclays’ consumer banking ambitions.

A Forward-Looking Partnership

For Barclays, this acquisition is more than an expansion — it’s a step toward future-ready banking. By integrating Best Egg’s agile technology, data-driven lending model, and customer-focused approach, Barclays aims to deliver a more seamless credit experience to US consumers.

The combination of Barclays’ financial strength and Best Egg’s innovation DNA creates a compelling opportunity to reshape how personal lending is delivered — faster, smarter, and more efficiently.

As global banking continues to evolve, this move reinforces Barclays’ commitment to innovation and long-term growth in the US market. With Best Egg under its umbrella, Barclays is not just acquiring a fintech — it’s acquiring the future of consumer lending.

Key Highlights:

• Deal Value: $800 million
• Acquirer: Barclays US Consumer Bank (subsidiary of Barclays PLC, UK)
• Target: Best Egg (Delaware-based consumer lending fintech)
• Founded: 2013
• Total Personal Loans Issued: $40 billion+
• Expected 2025 Originations: $7 billion+
• Recent Funding: $500M purchase facility (Oct 2023) & $1B vehicle loan facility (Dec 2023)
• Banking Partner: Column Bank

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