Lloyds Bank is set to acquire the fintech Curve for around £120 million, significantly less than the £250 million Curve has raised since its inception in 2015. The deal, expected to close in the first half of 2026, comes amid concerns from IDC Ventures, which holds a 12% stake in Curve. IDC has criticized Curve's management for allegedly prioritizing control over shareholder interests during the sale process and has consistently opposed the acquisition. Curve's financial struggles are evident, with a reported pretax loss of £36 million in 2023, an increase from £69 million the previous year. The company paused its U.S. expansion plans and reduced its workforce by a third earlier this year. CEO Shachar Bialick had previously set ambitious growth targets, projecting the company could reach a valuation of $50 to $60 billion by the time of an IPO in ten years. However, Curve's recent communications reflect disappointment over the sale's valuation, which falls short of these aspirations. Lloyds aims to enhance its digital banking services through this acquisition, aligning with its strategy to transition customers away from physical branches. The bank has already announced plans to close 136 branches, emphasizing a shift toward digital solutions. Bialick noted that joining forces with Lloyds would allow Curve to scale its services and reach more customers, while Lloyds' CEO of consumer relationships highlighted the integration of Curve's technology as a step toward a more advanced banking experience.