UK-based company Twig recently acquired teen banking service provider Vybe Technology, based in the U.S., according to a press release.
“We are so excited to be taking this step forward, and are confident that it will help us expand our reach to even more customers,” Twig CEO Geri Cupi said. “With technology Vybe team built, we are able to offer our users a more comprehensive suite of services, including teen banking and financial literacy education. This will help us better serve the Gen Z audience, and provide them with the tools they need to be successful in their financial lives.”
As the company continues its effort to appeal to Gen Z users, as of October 2022, the platform currently serves more than one million users just 15 months following its launch.
The move is one of many Twig has made to maintain its position as the fastest growing fintech in Europe. The addition follows other similar acquisitions, including Loopster and Mobi.market.
“The addition of Vybe to Twig’s portfolio further solidifies its commitment to being a leader in the Gen Z market,” a recent press release states. “With its focus on circular economy principles, Twig is looking to make a long-term impact on the industry and provide its users with the best products and services available.”