Cheshire fintech, Suits Me, has acquired the Engage business from Contis (which has rebranded as Solaris).
The deal, for an undisclosed sum, will see the migration of all of Engage Card customers’ accounts to Suits Me – which the company said was a “significant step forward” in its mission to become the UK’s biggest provider of inclusive financial services.
Engage is a Visa debit card and account, which says is for everyone regardless of “financial circumstances or credit status.” It’s available through Community Banks and Credit Unions.
Fintech group, Solaris, had been actively looking for a new owner of the business.
“We are thrilled to welcome Engage Card customers to the Suits Me family,” said Matthew Sanders, CEO of Suits Me Limited.
“This acquisition is not only an exciting growth opportunity for us, but it also aligns perfectly with our core mission: to make everyday banking more accessible and inclusive. We look forward to continuing the fantastic work started by Engage with credit unions, and we’re committed to building on their efforts to ensure our customers have the financial tools they need.”
Suits Me said it intended to continue Engage’s initiatives in partnership with UK credit unions, to promote financial inclusion.
After Christmas users will be sent a new card, and from mid January, their balance will be switched to Engage.
