![\"Lloyds](\"https:\/\/www.europesays.com\/britain\/wp-content\/uploads\/2026\/05\/Lloyds-Bank-1200-x800-2-2.webp\")
\t\tLloyds snapped up Curve last year.\t<\/p>\n\t\t\tWednesday 20 May 2026 12:22 pm\n\t\t\t<\/p>\n
\t\tLloyds snapped up Curve last year.\t<\/p>\n
Curve has swung to a loss as the Apple Pay rival\u2019s future faces uncertainty ahead of its takeover by Lloyds Banking Group.<\/a><\/p>\n The digital wallet<\/a> provider suffered a \u00a39.5m loss in the 2024 financial year, a major drawback from its \u00a33m profit the 12 months prior. The tide turned on Curve\u2019s balance sheet as revenue slumped by \u00a32m to \u00a337m, whilst cost of sales jumped to just shy of \u00a314m, up from \u00a39m.<\/p>\n Lloyds reached a deal to acquire the fintech in a deal for an undisclosed sum in November 2025. Sky News had reported around the time that Lloyds would pay around \u00a3120m.<\/p>\n It followed Curve being valued at around \u00a3133m in 2023 after a funding round that included Ceranco Management, which is linked to the estate of Microsoft co-founder Paul Allen.<\/p>\n The firm said at the time that the transaction would be completed in the first half of 2026, subject to standard regulatory approvals. Curve hailed the acquisition as a \u201cpartnership rooted in shared ambition\u201d.<\/p>\n \t\tCurve has no \u2018visibility\u2019 to future<\/p>\n But in the latest accounts filed by Curve, the fintech said as of May 8 it did not have \u201caccess or full visibility\u201d to the future plans of Lloyds<\/a>, which include \u201cfinancing arrangements or future restructuring proposals by the new owner\u201d.<\/p>\n \u201cThe sale to [Lloyds] has not yet completed, and the impact of the sale on the future operation will be dependent on the future owner,\u201d it added.<\/p>\n The firm took the chop to its headcount in the financial year, dwindling to 167 from 188 in the UK and down to 196 from 208 when including its global parent and subsidiaries.<\/p>\n Shahar Bialick, the firm\u2019s founder and chief executive, wrote in the accounts that whilst it was \u201cunlikely\u201d the deal with Lloyds faces delays or is abandoned, Curve would face a \u201cnear-term funding requirement\u201d should it be kicked to the curb.<\/p>\n The firm\u2019s audit corroborated this, adding there was \u201ca material uncertainty that exists that casts significant doubt on the entities\u2019 ability to continue as a going concern\u201d.<\/p>\n \t\t\t\t\tRead more<\/p>\n