A Preston startup has partnered with a global banking firm.
Luke Massie founded Vibe, which is now based in Lancaster, and connects people, brands, sellers and banks with real-time messaging and instant payments.
Vibe was one of Cotton Court Business Centre’s earliest start-ups.
Luke first launched Vibe from a hot desk at Cotton Court as a teenager. More than a decade on, VibePay has grown into a serious player in the fintech industry, raising over £15 million.
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Rob Binns, director at Cotton Court, said: “Luke joined us at Cotton Court working on a desk space when he was just starting out with Vibe. Seeing him develop that idea into a serious player in fintech has been incredible.
“We’re proud to have played a small part in the journey. This collaboration between Vibe and Banked isn’t just a win for them, it’s fantastic news for the Preston and Lancashire business scene. It shows what’s possible when talented people with good ideas are supported early on and given the space to grow. It also shows that innovation doesn’t need to come out of London or big tech hubs, it can start right here.”
Now VibePay has been acquired by the global ‘Pay by Bank’ platform Banked with the deal aiming to accelerate ‘Pay by Bank’ adoption. The acquisition was supported by Vibe’s long-time supporter and investor, Candy Ventures, founded by UK entrepreneur and businessman Nick Candy.
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Luke Massie said: “This is an incredibly exciting new chapter for VibePay and our community.
“We’ve spent years building technology that genuinely connects people – not just for transactions, but for experiences.
“By joining forces with Banked, we now have the infrastructure, global reach, and merchant access to supercharge what we’ve built, and deliver real value to consumers at scale.”
Banked’s acquisition of VibePay will address a gap in the market by rewarding debit users who have been overlooked in traditional credit card ecosystems.
Consumers will gain access to personalised rewards, cashback, and exclusive offers with every Pay by Bank transaction in the VibePay app.
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Brad Goodall, chief executive of Banked, said: “Banked’s pioneering global infrastructure has made us a leading Pay by Bank provider alongside our distribution partners and merchants.
“But the real value in Pay by Bank goes beyond cheap and secure payments; it’s in making spending work for everyone.
“The combination of Banked and VibePay will drive Pay by Bank adoption through innovative consumer incentives – on par with credit cards – and empower merchants with deep data insights to drive acquisition and retention like never before.
“I couldn’t be more excited to have Luke and the team joining Banked to create the best Pay by Bank experience in the world and accelerate market adoption for our banking technology partners, merchants, and consumers.”
The combined momentum of these two companies is estimated to put them in the $250–300 million valuation range, demonstrating just how far a bold idea from Preston can go.
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