Credit Suisse has announced an agreement to provide Curve, the finance app, with a credit facility to fund its first $1 billion in loans.

Launched in 2018, Curve is a digital wallet that combines users’ cards into one app with one card. The app lets users split any transactions they make using its Curve Flex product. The company said the support from Credit Suisse would help it to continue scaling its business in the UK, US, and EU.

The UK-headquartered financial app Curve announced its launch in the US earlier this year.

At the time, the company said that take up of its platform had grown exponentially since its launch in 2018, with the app now live in 31 markets around the world.

Expansion plans enabled by the credit facility from Credit Suisse will include Curve’s Swipe Now to Pay Later feature which enables users to split any transaction they make on the Curve card into three, six, nine or 12 monthly instalments. Already available in the UK, Curve said it would now be able to expand the feature into other markets in which it operates.

"Securing financing of this size during this period of economic uncertainty is a testament to the broad support of our bold expansion plans underpinned with now demonstrated expertise with data,” said Paul Harrald, chief information officer of Curve Group and the global head of Curve Credit, Curve's consumer lending business.

The move comes after the chairman of Credit Suisse insisted that the bank is not for sale following a restructuring of the business.

After the bank faced quarterly losses of CHf4 billion, the bank said that it would cut its workforce by 9,000 by the end of 2025 while also shifting focus away from investment banking towards wealthy clientele.

Credit Suisse’s stock price has tumbled by more than half this year, but the company’s chair Axel Lehmann told Bloomberg TV that it has no intention of selling.

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