VibePay has stated that its new open banking modules will revolutionise financing for ‘Gen-Z business owners’, after the Fintech start-up added a roster of 24 UK-licensed banks to its new app and flagship funding platform.
Launched in 2018 by entrepreneur Luke Massie, the founder of ‘Vibe Tickets’ a ticket resale platform for live gigs and festivals, VibePay seeks to become the ‘all-in-one’ enterprise solution for fresh start-ups, helping young business owners cover all key commercial components comprehensively.
This morning, VibePay announced a major development, confirming that its app and platform had successfully integrated its systems with 24 UK licensed banks, including new partners Starling, Capital One, MetroBank and Tesco.
Since 2018, VibePay is reported to have raised £6.5 million in venture funding, as the company plans to develop a seamless platform and app for small and micro businesses to register compliant business accounts and offer further enterprise solutions through its growing network of banking partners.
Targeting Gen-Z business owners, VibePay stated that its platform and app is the only custom-built solution which comprehends how fresh start-ups and entrepreneurs earn money from peer-2-peer digital marketplaces such as Depop and Poshmark.
Since launching its first beta modules in October 2019, VibePay added that it has processed over £3 million in requests and payments from new partners, underlining the need for its services for young businesses.
Luke Massie, founder of VibePay said: “This new app is the culmination of months of work – we’ve taken invaluable feedback from the VibePay community and looked at how we can make the app bigger and better so it’s easier, more fun and an indispensable tool for our users’ lives.
“We’re built for Gen Z by Gen Z which means we’re able to reach this critical audience with a unique solution built on their lives. We can’t wait to roll out the new functionality over the coming weeks and see our community continue to grow. We’ve already got our sights set on the next phase of growth for 2020 and beyond.”