After the first funding round of 15 million euros in November 2020 and a second of 60 million euros in April 2021, the German FinTech Vivid Money repeated the feat with a fundraising of 100 million euros. This series C is led by Greenoaks Capital, with the participation of Ribbit Capital and SoftBank, through Vision Fund 2. This financing thus doubles the valuation of the company which now reaches 775 million euros.
Launched in June 2020 in the German market by Artem Yamanov and Alexander Emeshev, alumni of the Russian FinTech Tinkoff Bank, Vivid Money develops a mobile banking application that allows users to spend, save or invest from the platform. The startup supports its clients in their investment projects by including financial education content in its application.
Since its launch, Vivid has launched features that go beyond traditional banking services, such as fractional investment service or cashback program. The Berlin startup’s ambition is to become a financial super-app in a European market dominated by the British Revolut. In Germany, its main competitor is neobank N26, which has no less than 5 million customers in 25 countries. Since its series B in April, Vivid Money has claimed more users multiplied by 5, to cross the milestone of 500,000 customers. Over the past 12 months, the startup has doubled its revenue 25 times.
“Our users are looking for more than a mobile banking app, they are looking for an app where they can save, invest and manage their finances. Our ambition is to be the application that combines these features in one integrated approach. said Artem Yamanov, co-founder of Vivid Money. ” We are now ready to strengthen our product, improve the link between our users and federate a community driven by a common desire to strengthen their financial education and grow their money . Vivid is now planning to expand its banking and investment offerings and recruit to various offices in Europe.
Market: financial services platform
Clients: 500,000 customers
Builders: Artem Yamanov and Alexander Emeshev
The head office: Berlin
Activity area: FinTech
Funding: €100 million in Series C led by Greenoaks Capital, with participation from Ribbit Capital and SoftBank, through Vision Fund 2; €60 million in Series B in April 2021; €15 million in Series A in November 2020
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