The German neobank Vivid Money announced on Thursday, April 29 a new fundraising of 60 million euros, valuing it at 360 million euros. The funding round was led by Greenoaks with participation from historic investor Ribbit Capital. The last fundraising of 15 million euros started in November 2020.
Access to new markets
These new funds are dedicated to the European deployment of the start-up, which is already in Germany, France and Spain, and to the development of new tools. “We aim to allow our users to manage all their financial needs – investments, savings, stocks, crypto-assets, education, finance – and this, within one application.“said Artem Yamanov, co-founder of Vivid Money.
Created in 2019 by Artem Yamanov and Alexander Emeshev, Vivid Money is a young start-up whose offer has been on sale since June 2020. neobank offers a current account offer with a Metal credit card. It can be controlled remotely from the app, activated or deactivated, and also works with Apple Pay and Google Pay wallets.
Vivid Money also offers the possibility of creating up to 15 multi-currency accounts, called “pockets”, which have their own IBANET and are associated with a specific virtual card. This includes hotel reservations or car rental services through Vivid Services.
The application has registered 100,000 users and intends to continue this expansion by launching new features. In early April 2021, the young shoot announced the launch of “Crypto Pockets” that allow neobank customers to invest in digital assets in a fractional way from 0.01 euro. Through this new service, it continues its goal of removing the boundary between banking and investment services.
The German startup relies on the BaaS (Banking-as-a-Service) banking infrastructure of SolarisBank, which gave it the credit institution license, and the Visa network. Vivid Money has over 200 employees and has offices in Berlin, Amsterdam in the Netherlands and Moscow in Russia. He has no communication about his turnover.
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