Caxton Payments Ltda London, UK-based fintech company, and ParentPay, the payment system for schools, today announced a major agreement.
Caxton acquired the entire operating business and share capital of nimbl, the pocket money app from ParentPay, expanding Caxton’s offering into the fast-growing market of youth money apps and cards.
The amount of the deal was not disclosed.
nimble customers can continue to use their cards as normal and will not be asked to change their account details, log-ins or passwords. Under the all-cash deal, nimble will operate as a standalone company within the Caxton group. Alana Parsons will become Chief Executive Officer of nimble with immediate effect, leading the company as it enters its next phase of growth. She will retain her role as Group Chief Operating Officer of Caxton.
Founded in 2015 by the owners of ParentPay, nimbl provides a safe and secure way for parents and carers to give pocket money to their children, while also offering a range of features that help young people learn about budgeting, saving, and spending wisely.
Led by founder and Group CEO, Rupert Lee-Browne, Caxton is a fintech payments company which processes tens of millions of international and domestic transactions each year.
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