LONDON (ShareCast) - (Sharecast News) - Barclays said on Tuesday that it has agreed to buy US direct-to-consumer personal loan origination platform Best Egg for $800m.
It said the business, which focuses on prime borrowers, has consistently grown since its establishment in 2013 and has facilitated more than $40bn in personal loans to more than two million customers.

In 2025, Best Egg is expected to facilitate more than $7bn in personal loan originations via its platform.

The loans are funded through structures including securitisation programmes and forward flow arrangements provided by a range of alternative asset managers, with the Best Egg generating largely fee-based capital-light income as a result of its loan origination and servicing activities.

It currently services approximately $11bn in personal loans.

Once the deal completes, Barclays expects to continue this model and retain a small portion of Best Egg's new lending flow on its balance sheet.

Chief executive C.S. Venkatakrishnan said: "The deep and sophisticated US consumer finance market offers rich prospects for growth at Barclays.

"The transaction will strengthen our US consumer bank and offers an exciting opportunity to significantly bolster our capabilities in personal lending."

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