VibePay, a player in the real-time payments and data sector, announced a significant boost in funding alongside a strategic hiring move.
The company, which is making waves in the FinTech industry, has added £5m to its coffers, courtesy of its existing investors.
This latest funding round brings the total investment in VibePay to £12m. The contributors to this round are longstanding supporters of VibePay’s vision, including high-profile figures like Nick Candy, who continue to back the company’s ambitious growth plans.
At its core, VibePay facilitates seamless real-time transactions and data analysis, capitalizing on the burgeoning Open Banking framework. The platform is designed to provide brands with detailed, actionable consumer spending insights through advanced AI analytics, which can be leveraged both within the VibePay ecosystem and in offline contexts.
The new capital will be directed towards further developing VibePay’s innovative payment solutions and expanding its market reach. This includes the launch of VibePay Insights later this year, a new platform aimed at enabling brands to access and understand real-time consumer spending behaviors and trends more effectively.
Additional to the funding news, VibePay has welcomed Conor Tiernan as its new Head of Insights. Tiernan, who previously spearheaded Klarna’s Kosma and Open Banking initiatives, brings a wealth of experience in launching new products and leading significant technological efforts. His expertise is expected to be pivotal in rolling out VibePay Insights and driving its adoption.
Luke Massie, CEO of VibePay, commented on the collaboration with Tiernan, stating, “I first connected with Conor a couple of years ago while exploring Klarna’s open banking capabilities for VibePay. Conor immediately grasped the potential of our Channels feature, which focuses on putting users at the center of their financial ecosystem. I’m thrilled to see how his expertise will help drive our mission forward.”
Reflecting on his new role, Tiernan shared, “The power of open banking is about giving users control, which is at the heart of VibePay’s approach. I’m joining because I believe in VibePay’s vision and its community of users. I look forward to helping brands onboard and connect with VibePay’s engaged audience.”
Previously, VibePay had secured a total investment of £7m prior to this funding round, setting a strong foundation for its ongoing initiatives in the Open Banking sector.
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