Caxton Payments has acquired nimbl, a pocket money app and card, enabling the firm to expand its own offering of youth money apps and cards.
Through the integration of nimbl’s services, Caxton can offer additional features that teach young people about money. Some of the nimbl features are safe and secure pocket money transfers, as well as budgeting tools and savings options that encourage responsible personal finance habits.
nimbl will continue to operate as a distinct business and brand within the Caxton group. As part of the deal, the nimbl has named Caxton COO Alana Parsons as its new CEO who will support it through the next growth phase. Parsons will also retain her role as COO of Caxton.
Caxton founder and Group CEO Rupert Lee-Browne said, “At Caxton, we believe that financial education is essential, and we’re excited to be acquiring nimbl to expand our offerings in this area.
“We’re committed to helping young people learn about responsible personal finance and develop healthy habits around money management. With nimbl expertise in this field and our shared values, we’re well positioned to make a positive impact on the financial lives of young people.”
Caxton Payments acquired nimbl from ParentPay, a cashless payment system for schools.
Earlier in the year, Greenlight Financial Technology launched a new interactive financial literacy game.
Level Up is an interactive, curriculum-based game that was built by academic and game design experts. Its aim is to transform financial education through industry-leading curriculum, challenges and rewards that keep kids and teens engaged.
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