Caxton Payments has acquired the entire operating business and share capital of nimbl. nimbl is a pocket money app from ParentPay, and online payment service for schools.
"We're thrilled to be expanding the Caxton magic to a wider customer base through nimbl. With its strong brand and innovative offering, combined with the resources that Caxton will provide, nimbl will make a significant impact on the youth money app market," says Alana Parsons, Group Chief Operating Officer of Caxton who will also take on the role of Chief Executive of nimbl.
nimbl customers and their accounts will be unaffected by this change of ownership. 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, nimbl will operate as a standalone company within the Caxton group.
"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," says Caxton founder and Group CEO, Rupert Lee-Browne.
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