Barclays Buys US Loan Platform Best Egg for $800 Million (1)

Barclays Plc has agreed to acquire US direct-to-consumer personal loan origination platform Best Egg Inc. for $800 million, part of the British lender’s push to deepen its presence in the world’s biggest economy.

Since its establishment in 2013, Best Egg has facilitated more than $40 billion in personal loans to more than 2 million customers, according to a statement Tuesday. This year, Best Egg is expected to enable over $7 billion in loans via its platform.

Following completion of the deal, Barclays expects to continue Best Egg’s origination and servicing activities and retain a “small portion” of its new ...