Observed Signal · Apr 15, 2025 · M&A - Completed · Source: Tech.eu · Impact: 2/5 · Sentiment: Neutral
Banked Acquires Nick Candy-Backed VibePay in All-Share Deal
UK payments fintech Banked has acquired London-based VibePay, a peer-to-peer payments and messaging fintech backed by property investor Nick Candy, in an all-share transaction. The combined group is valued at more than $100 million, with Candy expected to hold around a 25% stake. The deal is Banked's second acquisition in 12 months, following its purchase of Australian pay-by-bank provider Waave. VibePay reports more than 250,000 active users with multiple linked bank accounts. VibePay founder Luke Massie and Candy Ventures director Steven Smith are joining Banked's board. The combined company aims to expand pay-by-bank adoption by offering debit users rewards and cashback, initially focusing on the UK and leveraging Banked's international footprint and merchant relationships such as Chemist Warehouse.
Consolidation in the UK open banking payments sector; relevant to e-commerce and transaction infrastructure but peripheral to core advertising technology.
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Key Takeaways & Evidence Grounding
- Banked acquired VibePay in an all-share deal announced on April 15, 2025.
- The combined group is valued at over $100 million, with Nick Candy holding around a 25% stake.
- VibePay has over 250,000 active users with multiple linked bank accounts.
- The acquisition is Banked's second in 12 months, following its purchase of Australian pay-by-bank provider Waave.
- VibePay founder Luke Massie and Candy Ventures director Steven Smith will join Banked's board.
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