Community Choice Financial completed the acquisition of the legacy US direct lending business of CURO Group for $345m.

Community Choice Financial, a consumer financial services company, completed the acquisition of the legacy US direct lending business of CURO Group, a consumer finance company, for $345m. “In late 2021, we acquired Heights Finance, a leading near-prime installment lender, signifying our entry into this broader consumer lending market in the US. Continuing on that strategic shift, today we are announcing that we are selling our legacy storefronts and online businesses in the US, which operate under the Speedy Cash, Rapid Cash and Avio Credit brands, and we are purchasing a US based near-prime installment lender, First Heritage Credit. Together, these transactions completely transform our US direct lending business to a near-prime installment lender offering larger loans. These three transactions have strategically recast our US direct lending business in less than a year’s time,” Don Gayhardt, CURO CEO.