M&A advisory for online lending companies
Lending M&A is a credit transaction wearing equity clothes. The buyer underwrites the loan book before the platform - vintage curves, charge-off trajectory, recovery rates and the cost and tenor of warehouse and forward-flow facilities all feed the equity price. Active acquirers are banks adding origination, consumer finance incumbents, larger fintechs rolling up adjacent products and PE-backed specialty finance platforms with their own debt capacity.
Acquirers split between banks adding origination capability, consumer finance and specialty finance incumbents, larger fintechs rolling up adjacent products, and PE-backed specialty finance platforms with their own debt capacity - Apollo, KKR, Centerbridge, Cerberus, Warburg Pincus all run platforms in this space. The largest cheques come from acquirers with balance-sheet capacity to assume or refinance the warehouse. Flow has direct access to these buyers.
Flow team has relevant sector experience and has worked with online lending companies across consumer instalment lenders, SMB lenders, point-of-sale finance providers, revenue-based finance platforms and specialty credit operators.
"Online lending" KPIs M&A buyers look at
Key metrics strategics and PE buyers look at when analayzing online lending M&A targets
Originations
Loan book outstanding
Yield (gross)
Charge-off rate
Loss-adjusted yield
Cost of funds
Provision / ECL
Approval rate
Vintage loss curve
Warehouse utilisation
Online lending valuations in May 2026
Public online lending comps trade at 3.4x EV/Revenue. Median revenue multiple across online lending M&A deals was 1.6x in the last 12 months.
3.4x
Median EV/Revenue as of May 2026 for public online lending companies
9.0x
Rocket Companies is the highest valued public online lending company based on EV/Revenue (excluding outliers)
1.6x
Median EV/Revenue across online lending M&A deals in the last 12 months
8.7x
Median EV/Revenue across online lending VC rounds in the last 12 months
Key recent online lending M&A deals
$800M acquisition of Best Egg by Barclays Bank Delaware was the largest online lending M&A transaction completed in the last year.
See all online lending M&A deals| Logo | HQ | Description | Buyer | ||||
|---|---|---|---|---|---|---|---|
Oct-25 | Best Egg |  | Best Egg is a Wilmington-headquartered fintech platform issuing personal loans up to $50,000 for debt consolidation, home improvements, and major purchases. Borrowers access unsecured loans at APRs from 8.99% and secured options using vehicle equity through a soft credit check application. Funds disburse within one business day post-approval, with terms from 36 to 60 months. Free tools include credit monitoring via TransUnion, spending trackers, and debt payoff calculators, supporting users in 32 states. | Barclays Bank Delaware | $800M | 1.6x | |
Feb-26 | meutudo. |  | Meutudo is a São Paulo-headquartered fintech app comparing personal loans and credit lines from Brazilian banks like Itaú and Nubank. It matches users to offers based on Serasa credit scores, enabling instant pre-approvals and disbursements within 24 hours. The platform covers installment loans up to R$50,000 and revolving credit, with tools for debt consolidation. Launched in 2021, Meutudo serves 1 million monthly active users across mobile and web interfaces. | Fundo Invest Imobiliario | $193M | - | |
Feb-26 | meutudo. | | Meutudo is a São Paulo-headquartered fintech app comparing personal loans and credit lines from Brazilian banks like Itaú and Nubank. It matches users to offers based on Serasa credit scores, enabling instant pre-approvals and disbursements within 24 hours. The platform covers installment loans up to R$50,000 and revolving credit, with tools for debt consolidation. Launched in 2021, Meutudo serves 1 million monthly active users across mobile and web interfaces. | - | $193M | - | |
Sep-25 | CommLoan | | CommLoan is a commercial mortgage lending platform headquartered in Irvine, California, connecting borrowers with over 50 lenders offering products like bridge loans, construction financing, and permanent mortgages. The platform facilitates comparisons of terms from banks including Chase and Wells Fargo for properties across the United States. | Chain Bridge I | $50M | - | |
Dec-25 | DBT |  | DBT is a Sweden-based LendTech firm delivering business loans to SMEs through a credit technology platform that assesses risk using company data for swift financing decisions across industries. | NOBA Bank | $38M | - | |
Dec-25 | Vanik Finance |  | Vanik Finance is a UAE-based fintech offering digital lending and financial governance solutions for non-banking institutions via technology platforms. | Credlix | $8.9M | - | |
Dec-25 | InstaMortgage | | InstaMortgage is a fintech platform automating mortgage origination with robotic process automation, OCR, and intelligent underwriting for streamlined lending. | - | $8.5M | - | |
Dec-25 | BlackSoil | | BlackSoil is a Mumbai-based alternative lending platform providing debt financing options like term loans and working capital facilities to new economy startups in e-commerce, logistics, fintech, and SaaS sectors across India. | FMOViswanatha Prasad | $1.0M | - | |
May-26 | IndiaLends | | IndiaLends is a Gurgaon-headquartered digital lending marketplace that links retail borrowers and SMEs with NBFCs and banks for personal loans up to INR 10 lakh. Founded in 2015, the platform employs big data analytics for credit scoring and offers free CIBIL reports, expense trackers, and instant loan matching via web and Android app. It processes over 1 million loan applications annually, partnering with lenders like Bajaj Finance, Kotak Mahindra, and IDFC Bank. Borrowers access unsecured loans at rates starting from 10.5 percent, while lenders benefit from automated underwriting and collections workflows. | Freo | - | - | |
Mar-26 | Fundo |  | Fundo offers a digital funding app with quick loans, flexible repayments, and credit services. | FinVolution Group | - | - | |
Mar-26 | a55 (credit license) | | a55 is a São Paulo-based Brazilian fintech holding a direct credit society (SCP) license from the Central Bank of Brazil. The company provides credit-as-a-service (CaaS) to e-commerce platforms for merchants to offer customers instant installment financing at checkout. a55 generates revenue from loan origination fees and interest on financed purchases. | Pagsmile | - | - | |
Mar-26 | Capital Now Funding | | Capital Now Funding offers pre-settlement legal funding for motor vehicle accidents and personal injury cases. | Forge Capital | - | - | |
Feb-26 | LiquidOps |  | LiquidOps is a lending and borrowing protocol on Arweave and AO blockchains allowing users to earn interest on assets or borrow liquidity for decentralized applications. It facilitates permadecent storage-integrated DeFi operations. | Pierbridge | - | - | |
Feb-26 | Via Capital | | Via Capital is a Brazilian working capital and credit solutions provider headquartered in Belo Horizonte, Minas Gerais. Founded in 2011, the firm specializes in receivables-backed financing through its two proprietary FIDCs — Fundo Artemus and Fundo Adamantus — which pool trade receivables to provide liquidity to small and mid-sized enterprises. Via Capital serves more than 250 clients across over 20 Brazilian states, offering factoring, credit anticipation, and cash flow management solutions tailored to the operational needs of SMEs in sectors ranging from manufacturing to services. | Celcoin | - | - | |
Feb-26 | Harvest | | Harvest is an AI-driven debt management and refinancing platform backed by $1 million in seed funding from Refactor Capital, 9Point Ventures, v1.vc, Next Big Ventures, and angels. It assists Americans with debt through myharvest.com. | Crossroads Impact Corp | - | - |
Most active buyers of online lending companies
Freo, ITF Group and Celcoin are the most active acquirers of online lending companies in the last three years.
See all online lending acquirers| Logo | HQ | Description | Key acquisitions | ||
|---|---|---|---|---|---|
Freo | | Freo is a neobank offering savings accounts, credit lines, credit cards, and financial utilities via mobile app. It targets young professionals in India with UPI-linked services and rewards. The Bangalore HQ drives its digital-first model. | IndiaLends | 1 | |
ITF Group |  | ITF Group AD Sofia is a non-banking financial institution that provides a large portfolio of financial services to borrowers. Its main products are consumer loans with various payment schedules targeted to audiences with a specific risk factor. The company's clients are capable individuals, with a steady income and a good credit history, permanently residing on the territory of the Republic of Bulgaria, as well as legal entities. It has created and operates two separate consumer lending brands: Smile Credit and GetCash. Smile Credit is an online lending platform, offering payday and installment loans, and GetCash mainly offers installment loans through a network of sales offices in Bulgaria. | KLEAR LENDING AD | 1 | |
Celcoin | | Celcoin is a São Paulo-headquartered fintech providing banking-as-a-service infrastructure for payments, credit, and deposits. Its API platform enables bill payments, PIX transfers, and digital accounts for e-commerce and utilities. Celcoin manages regulatory compliance with Brazil's Central Bank for non-banks. The company processes transactions for 100 partners including retailers and agribusiness firms. | Via CapitalVulkan LabsCobransaas+1 | 1 | |
United Fintech | | United Fintech is a London-headquartered acquirer of capital markets fintech firms, building an ecosystem platform for banks, hedge funds, and asset managers. It integrates acquired companies specializing in trading workflow automation, client onboarding, compliance tools, and data analytics, serving over 200 financial institutions globally to streamline post-trade processes and regulatory reporting. | Trade LedgerCommercial Banking ApplicationsCobalt+1 | 1 | |
Crossroads Impact Corp | | Crossroads Impact Corp, formerly Crossroads Systems, Inc., is an Austin-headquartered provider of data archival and storage solutions listed on NASDAQ as CRDS. Founded in 1996, the company holds over 100 patents for technologies enabling data security, performance optimization, and cost reduction in enterprise environments worldwide. | HarvestFountainhead Commercial Capital | 1 | |
Credlix |  | Credlix is a Mumbai-headquartered fintech platform specializing in collateral-free working capital financing for small and medium enterprises, suppliers, and exporters in India. It offers digital invoice discounting, channel financing, and vendor financing solutions processed within 24 hours through partnerships with banks and non-banking financial companies. Credlix serves manufacturing, trading, and export sectors across 15,000 pincodes nationwide since its founding in 2021. The platform integrates with ERP systems like Tally and SAP for seamless credit assessment based on invoice data and supply chain relationships. | Vanik FinanceNuPhi | 1 | |
Pierbridge | | Pierbridge recruits ambitious young people for the startup ecosystem. | LiquidOpsAstro | 1 | |
IHC |  | International Holdings Co PJSC is a United Arab Emirates-based public joint stock company. The group, along with its subsidiaries, is engaged in management services and investing in diversified projects; trading and importing of food items; sale of poultry products, and others. The company is organized into business segments as follows: Real estate and construction, Food, Technology, Financial services, Marine and dredging, Hospitality and leisure, Energy, and Services and other segments. It generates the majority of its revenue from the Real estate and construction segment. | ZeloPekoFirst Women Bank+1 | 1 | |
Shawbrook Group | | Shawbrook Group PLC is a specialist savings and lending bank operating in the United Kingdom. It focuses mostly on poorly served customer segments across the small to medium-size enterprise and retail market of the island nation. Shawbrook's primary markets include property, business, and consumer finance. The company has grown since its founding through mostly acquisitions. Net operating income mostly derives from asset finance, commercial mortgages, and secured lending. Shawbrook emphasizes customer service, and reputation. | ThinCatsPlayterJBR Capital+1 | 1 | |
Bybit | | Bybit is a cryptocurrency exchange headquartered in Dubai, United Arab Emirates. Launched in 2018, it provides spot trading, derivatives contracts including perpetual futures, options, and leveraged products for over 1,000 digital assets. The platform supports institutional services, staking, mining pools, and API integrations for high-frequency traders globally. | NOBINarkasa | 1 |
Founders and investors we've worked with
We've supported winning builders across online lending and beyond.
Rebellion Pay
We acted as exclusive sell-side advisor to Rebellion Pay, Spain's leading Gen Z neobanking platform, on its sale to Turkish consumer fintech unicorn Papara.
See more
MAILINGWORK
We acted as exclusive sell-side advisor to MAILINGWORK, a Chemnitz-based email marketing software platform, on its sale to French digital marketing leader Positive Group.
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TestSolutions
We acted as exclusive financial advisor to Swiss PE firm Patrimonium on its majority stake acquisition of TestSolutions, a Frankfurt-based software testing and IT services provider.
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HAPPYCAR
We acted as exclusive sell-side advisor to HAPPYCAR, a Hamburg-based pan-European rental car comparison and booking platform, on its sale to Dutch online price comparison player EasyTerra.
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Resillion
We provided buy-side advice to a dominant TIC industry player on the carve-out and acquisition of Resillion (fka Eurofins Digital Testing), a Hasselt-based digital testing, cybersecurity and forensics provider.
See moreRecent M&A advisory track record
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