KINGSTON, Jamaica — Dolla Financial Services Limited has completed the acquisition of the lending portfolio of Evolve Loan Co Limited, in a transaction that adds approximately $700 million in loans and about 1,800 customer relationships to its business.

The transaction became effective on June 30, 2026 and forms part of Dolla’s wider strategy to expand its scale, grow earnings capacity and deepen its presence in Jamaica’s microfinance sector.

According to the company, the purchase price was based on the gross nominal value of the portfolio, less agreed expected credit loss provisions. The deal also includes post-closing adjustment mechanisms aimed at providing downside protection and aligning the interests of both parties.

Dolla said the acquisition will allow it to bring the Evolve portfolio under its existing governance, compliance and risk management framework, while preserving the current terms of customers’ loan agreements. The company said affected customers will be contacted directly with updated payment instructions and servicing arrangements.

Chief Executive Officer Kenroy Kerr said the acquisition marks an important milestone for Dolla and reflects the company’s disciplined approach to growth.

“This acquisition represents an important milestone for Dolla. It expands our customer base, strengthens our presence in the Jamaican market and reflects our disciplined approach to growth,” Kerr said.

“We have been deliberate in structuring a transaction that creates value for our shareholders while maintaining our focus on prudent risk management,” he added.

Kerr said the transaction also gives Dolla an opportunity to build relationships with more than 1,800 additional customers.

“We remain focused on delivering fast, responsible and customer-centred lending solutions while continuing to create value for our shareholders,” he said.

Delroy Anderson, general manager of Evolve Loan Co Limited, said the transaction represents a positive outcome for Evolve’s customers and the business.

“Dolla has established itself as a strong and responsible lender, and we are confident our customers will continue to receive excellent service while Evolve sharpens its strategic focus,” Anderson said.

Dolla said the acquisition further supports its growth agenda following several years of portfolio expansion, improved financial performance and continued investment in its operating platform.

The company said the deal also reflects the continued development of Jamaica’s microcredit industry, where consolidation among regulated and well-governed lenders could help strengthen consumer confidence, improve service standards and support more sustainable lending practices.