Official filings lodged with Companies House confirm that VibePay, the British specialist in direct account-to-account transfers, has moved into voluntary liquidation. The development follows the resignation of its founder and former chief executive, Luke Massie, who departed the business in December 2025.
VibePay emerged as a seemingly innovative Fintech in the open banking space, creating a platform that allowed individuals, brands, content creators, and merchants to send and receive payments instantly from their bank accounts without relying on cards or third-party wallets.
By leveraging regulatory frameworks that opened up bank data securely, the company aimed to streamline everyday transactions and foster real-time financial connections across consumer and business audiences.
The firm’s trajectory shifted notably last year when it agreed to a takeover by Banked, a California-based pay-by-bank operator backed by Bank of America.
Although the acquisition was announced with optimism, the arrangement ultimately collapsed during the due-diligence phase, leaving the startup without the expected integration and resources.
Massie, who had steered the venture from its early days, announced his exit shortly afterward, describing the move as an opportunity to explore fresh endeavors after guiding the company through its formative stages.
In the wake of his departure, the remaining board members launched a comprehensive strategic assessment of operations, market position, and ongoing capital requirements.
Findings from that review were shared with principal backers in January.
Among those investors was Candy Ventures, the investment vehicle associated with prominent entrepreneur Nick Candy, which had previously committed significant sums alongside other supporters such as Vela Technologies, entrepreneur Scott Fletcher, and influencer Vikkstar.
After evaluating the outlook, these stakeholders chose not to extend further financing.
With no viable path to secure additional funding and after exhausting other restructuring possibilities, directors concluded that placing the company into liquidation represented the only responsible course.
Documents filed on 4 March 2026 detail an extraordinary resolution passed on 24 February to wind up the business, alongside the formal appointment of a voluntary liquidator and submission of a statement of affairs.
The decision has resulted in the loss of around ten roles in recent weeks, compounding earlier staff reductions that occurred throughout 2025.
Sources close to the matter described the outcome as disappointing for a team that had developed what many viewed as a viable product in a challenging segment.
According to available data, VibePay had attracted more than £12 million in total investment during its lifespan, underscoring both the ambition behind the project and the difficulties of scaling consumer-focused open banking solutions amid intense competition and shifting investor sentiment.
A representative for Candy Ventures issued a statement acknowledging the founder’s exit, the subsequent review process, and the collective effort to explore alternatives before reaching the current position.
The board expressed gratitude to employees, partners, and clients while confirming cooperation with appointed liquidators to manage an orderly closure.
This episode adds to a growing list of UK fintech closures in recent months, illustrating the persistent hurdles faced by startups operating at the intersection of open banking, instant payments, and consumer applications.
While the technology promises greater convenience and lower costs, achieving long-term profitability remains elusive for many players without sustained capital or strategic partnerships.
As liquidators begin their work, attention turns to what lessons the broader sector might draw from VibePay’s journey—from promising acquisition talks to an abrupt end.