Fintech Twig acquires teen banking firm Vybe Technologies
By Gloria Methri
Circular Economy FinTech Twig has announced the acquisition of Vybe technology, a leading provider of teen banking services in the UK. This new development follows the recent acquisitions of UK businesses Loopster and Mobi.market as Twig strives to become the go-to platform for the Gen Z market.
Twig CEO, Geri Cupi said, “We are so excited to be taking this step forward and are confident that it will help us expand our reach to even more customers. With the technology the Vybe team built, we are able to offer our users a more comprehensive suite of services, including teen banking and financial literacy education. This will help us better serve the Gen Z audience and provide them with the tools they need to be successful in their financial lives.”
Twig says the addition of Vybe to the company portfolio further solidifies its commitment to being a ‘leader’ in the Gen Z market. The latest acquisition also comes about 11 months after Twig raised $35 million in a Series A round.
The investment helped the company accelerate delivering its Web 3.0 green payment infrastructure and boost the rollout of its current suite of financial products. The Series A was led by the UK-based FinTech specialist Fasanara Capital, supported by undisclosed strategic investors, a group composed of current and former executives from LVMH, Valentino, Balmain, Tod’s, Swarovski, L’Oréal, Barclays, Goldman Sachs, and Scalapay.
Twig claims to be one of the fastest-growing FinTech in Europe, accounting for 1 million users as of October 2022, only 15 months after its launch. With its focus on circular economy principles, the company is looking to make a long-term impact on the industry and provide its users with the best products and services available
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