Dolla Financial Services Limited has completed the acquisition of the lending portfolio of Evolve Loan Co Limited, adding approximately $700 million in loans to its balance sheet.
The transaction also transfers about 1,800 customers to Dolla, significantly expanding its retail footprint in the Jamaican market.
The deal was reported by the Jamaica Observer, which noted the completion of the transfer as a key development for the lender.
The deal was reported by the Jamaica Observer, which noted the completion of the transfer as a key development for the lender.
By absorbing Evolve's portfolio, Dolla Financial is consolidating market share in a sector where customer acquisition costs are typically high.
The move allows the company to bypass traditional marketing cycles and immediately integrate a substantial block of existing borrowers.
This acquisition aligns with a broader trend of consolidation in regional financial services, where larger players are acquiring niche portfolios to scale operations.