After a 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 repeats the feat with a fundraising of 100 million euros. This series C was led by Greenoaks Capital, with the participation of Ribbit Capital and SoftBank, via Vision Fund 2. This financing thus doubles the valuation of the company which now reaches 775 million euros.
Launched in June 2020 on the German market by Artem Yamanov and Alexander Emeshev, alumni of the Russian FinTech Tinkoff Bank, Vivid Money is developing a mobile banking application allowing 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 rolled out features that go beyond traditional banking services, such as a fractional investment service or a cashback program. The ambition of the Berlin startup is to become a financial super-app in a European market dominated by the British Revolut. In Germany, its main competitor is the neobank N26, which has no less than 5 million customers in 25 countries. Since its series B last April, Vivid Money claims a number of users multiplied by 5, to cross the milestone of 500,000 customers. Over the past 12 months, the startup has multiplied its revenue by 25 times.
“Our users are looking for more than just a mobile banking app, they are looking for an app where they can save, invest and manage their finances. Our ambition is to become the application that brings these features together in a unified way. says Artem Yamanov, co-founder of Vivid Money. ” We are now ready to strengthen our product, grow the link between our users and federate a community driven by a common desire to strengthen their financial education and make their money grow. Vivid now plans to expand its banking and investment offerings and recruit across its various European offices.
Market : financial services platform
Clients : 500,000 customers
Founders: Artem Yamanov and Alexander Emeshev
The head office : Berlin
Activity area : FinTech
Funding: €100 million in Series C was 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