Author: Finextra

fintech funding payments

German challenger Vivid Money raises EUR60m

Berlin-based mobile banking app Vivid Money has raised €60million in a Series B funding round led by Greenoaks and joined by existing investor Ribbit Capital. The round gives Vivid, which was founded in 2019 by Artem Yamanov and Alexander Emeshev and has backing from Russian giant Tinkoff Bank, a €360 million valuation.

Launched in Germany last year, Vivid offers saving, spending and investment tools from a single app. Users get a German IBAN, share and crypto trading, P2P payments and money management features.

SolarisBank provides its fully licensed Banking-as-a-Service platform, while Visa acts as exclusive payment technology partner for Europe.

The new money will be used for product development and to help the startup expand into new European markets.

Says Yamanov: “We want to enable our users to organize all their financial needs — investments, savings, stocks and crypto assets, as well as financial education — in one single app.

“That is how we have set ourselves apart from the competition and how we plan to attract more customers across Europe.”

Source: Finextra

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