- Sector: Technology
- Region: West Midlands
Making the grade
Cashless payment solution ParentPay allows parents to pay securely for day-to-day and one-off items for their children at school, from school dinners and school trips to charity donations and music lessons.
Thanks in part to the academisation of schools, which has accelerated the move towards digital solutions to improve efficiency, Coventry-based ParentPay now provides services to more than 18,500 schools across Europe, including 15,500 in the UK. Last year in the UK alone, ParentPay collected £1.2bn in payments from parents.
Significant growth has also taken place in continental Europe. Following the company’s first acquisition in 2018, it has since acquired two new businesses and is the largest supplier of cashless payment solutions to schools in Germany, as well as providing communication and payment solutions to more than 85% of secondary schools in the Netherlands.
Since making its first profit in 2007, ParentPay’s revenue grew to £34.6m in 2019. And this success has been noted. In 2019, ParentPay was awarded Tech Growth Business of the Year at the UK Tech Awards for the second time, and was ranked the UK’s fifth-best performing privately-owned technology firm by Megabuyte.
Continued growth in the ecommerce market has led ParentPay to utilise its expertise in other digital solutions: Just Education, an online marketplace for supply teacher recruitment, and digital pocket money service nimbl. “The UK leads the European edtech market and has the second-highest adoption of cashless payments. ParentPay is leveraging its market-leading technology and expertise to create a pan-European platform for cashless and school payments,” explains Clint Wilson, Corporate Development Director and former CEO of ParentPay.
After 15 years of leading the business, Clint announced former managing director of PayPal UK, Mark Brant, as ParentPay’s new CEO. Mark will lead the next ambitious growth phase.