Banked Enhances Digital Payments with VibePay Acquisition
Deal News | Apr 15, 2025 | Business Cloud
Global pay by bank platform Banked has announced its acquisition of UK-based FinTech VibePay. Founded by Luke Massie, VibePay has established a growing following among Gen Z and Millennial users with its real-time payments and financial insights. The acquisition is supported by investor Candy Ventures, founded by billionaire Nick Candy. The deal, still pending FCA approval, aims to leverage Banked's global reach and VibePay's innovative technology, including an AI-powered insights engine. The acquisition reinforces both companies' ambition to expand globally and accelerate pay by bank adoption.
Sectors
- FinTech
- Banking
- Investment
Geography
- United Kingdom – Both Banked and VibePay are UK-based companies and the acquisition is pending UK regulatory approval.
- Global – The acquisition aims at expanding the technology to a global audience and enhancing Banked's presence internationally.
- Australia – Banked has acquired an Australian pay by bank provider and partnered with Australian companies, showing regional interest.
Industry
- FinTech – The article discusses the acquisition of a FinTech company, VibePay, which is involved in payment solutions and financial insights.
- Banking – The acquired company, VibePay, and acquirer Banked, operate in the banking sector through pay by bank solutions.
- Investment – Investment plays a key role in the acquisition, as Candy Ventures has been a long-time investor in VibePay.
Financials
- c.$180m – Valuation of Banked at the time of the acquisition.
- 12m – Amount previously raised by VibePay in its investment rounds.
- $200m+ – Estimated valuation of the new enterprise post-acquisition.
- 5m – Additional funding raised by VibePay last year.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Banked | Acquirer | Company | A global pay by bank platform aiming to enhance its digital payment capabilities through the acquisition of VibePay. |
| VibePay | Target Company | Company | A UK-based FinTech firm known for its instant payments and financial insights, popular among Gen Z and Millennials. |
| Candy Ventures | Investor | Company | A long-time investor in VibePay, founded by billionaire Nick Candy. |
| Nick Candy | Founder of Candy Ventures | Person | Billionaire and founder of Candy Ventures, supporting the acquisition process. |
| Luke Massie | CEO and Founder of VibePay | Person | Founder and CEO of VibePay joining the board of Banked post-acquisition. |
| Steven Smith | Director at Candy Ventures | Person | Director at Candy Ventures, set to join the board of Banked after the acquisition. |