Barclays PLC announced that its US consumer banking subsidiary, Barclays Bank Delaware, has reached an agreement to acquire Best Egg, Inc. for $800 million. The transaction is expected to close in the second quarter of 2026, pending regulatory approvals and other conditions.
Best Egg is a direct-to-consumer personal loan platform focused on prime borrowers. Since its founding in 2013, the company has facilitated over $40 billion in personal loans to more than two million customers. In 2025 alone, Best Egg is projected to originate more than $7 billion in personal loans through its platform and currently services about $11 billion in loans.
The acquisition will allow Barclays to expand its presence in the US consumer finance market by integrating Best Egg’s digital lending capabilities with Barclays’ existing credit card business. After completion of the deal, Barclays plans to maintain Best Egg’s current funding model while keeping a small portion of new lending on its own balance sheet.
According to Barclays, the purchase price represents a high-single digit Price/Earnings multiple based on Best Egg’s expected 2026 earnings after tax and excludes one-off transaction effects. The company expects the acquisition to generate returns comparable to its three highest-returning UK businesses over time and anticipates it will be accretive to both USCB’s and Barclays’ Return on Tangible Equity (RoTE) and Earnings Per Share by 2027.
Barclays stated that following the completion of this acquisition—and after selling its American Airlines co-brand credit card receivables—the group’s CET1 ratio is estimated to increase by approximately six basis points in Q2 2026. However, upon completion of the Best Egg transaction itself, about sixteen basis points of CET1 capital will be consumed. The company also confirmed that this deal will not impact its target total distribution of at least £10 billion between 2024 and 2026.
C.S. Venkatakrishnan, Group Chief Executive of Barclays, 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.”
Denny Nealon, Chief Executive of Barclays US Consumer Bank, commented: “This acquisition represents a significant step forward in our strategy to grow and diversify our US consumer banking business. As a leader in the personal loans market, Best Egg gives us the ability to reach more US consumers through a proven platform that has been successful for over a decade. We look forward to welcoming Best Egg’s customers as well as its talented and experienced management team and colleagues upon closing in 2026.”
Paul Ricci, Chief Executive Officer of Best Egg, added: “At Best Egg, we are driven by a mission to empower people with financial confidence and flexibility through our suite of lending products and financial health tools. Joining forces with Barclays marks a pivotal moment in our journey – one that amplifies our ability to reach even more people through innovative lending solutions that truly make a difference. This transaction is a testament to the strength of the incredible business we’ve built over the past 12 years, our talented team, and the trust we’ve earned from our customers. Together with Barclays, we’re excited to accelerate our growth and continue shaping the future of consumer finance in ways that are both meaningful and impactful.”
Both companies are headquartered in Wilmington, Delaware; Best Egg employs around 500 people.
Barclays Capital Inc. served as financial adviser for Barclays Bank Delaware during this process while Goldman Sachs & Co. LLC advised Best Egg.
For additional information about Best Egg's operations or offerings visit https://www.bestegg.com/
Further details regarding non-IFRS performance measures used by Barclays can be found within filings available at www.sec.gov.