ParentPay appoints former PayPal managing director as CEO
ParentPay Group, the Coventry-based payment platform for schools, has appointed the former managing director of PayPal UK, Mark Brant, as its new CEO.
Clint Wilson, the current CEO, who has led the business for 15 years, will become the group corporate development director.
Used by more than half of all British schoolchildren, ParentPay was first launched in 2004 as the idea of founder Lynne Taylor, a former teacher.
Wilson, who spotted an opportunity to pioneer a new market and transform the way payments were made within schools, became CEO soon after launch.
Under Wilson’s leadership, the group has grown rapidly, returning an unrivalled compound annual growth rate of 61% in EBITDA since its first profit in 2007.
It has developed its offering by acquiring Schoolcomms, Cypad and the Netherlands-based WIS, the latter marking the business’ first foray into Europe.
The group also launched two new businesses: Just Education and nimbl.
Brant, who played a key role leading PayPal to become a ubiquitous brand in global ecommerce, will now oversee a similarly ambitious growth plan.
Having taken its first steps into Continental Europe, the ParentPay Group plans further European acquisitions and the development of a suite of new products.
These plans include the creation of a new platform to expand ParentPay’s services outside of the school gates in a move that will open up the platform to a wider audience, challenging traditional payment providers.
Wilson said: “It has been an honour to lead ParentPay and I am humbled to have witnessed the growth and success the business has enjoyed. When I took the helm in 2005, we had a firm belief that we could make life easier for schools and parents and we set about building a platform capable of supporting schools across the UK..
“We now serve over 15,500 schools and for many ParentPay has become a household name, with families paying schools securely online as a part of normal daily life. Our ambition is for this to be true right across Europe.”
“Over the last 15 years ParentPay has not only defined a new market, we have helped to shape the industry while positively impacting thousands of schools and millions of families. I am immensely proud of all that our team have achieved.”
“Mark’s achievements in the payments industry are well documented and he commands huge respect among his peers. The fact he is joining ParentPay Group is testament to our growth and future plans. He is the ideal successor and we are delighted to welcome him into the business.”
Brant, who takes up the role of CEO at the beginning of March, added: “I am honoured to be given the opportunity to lead the next chapter in the ParentPay story. For many years I have admired their continued growth and innovative approach. Our future growth plans are ambitious, but we have the right team and platform with which to make the next big strides. I am excited about what lies ahead.”
