Vivid Money raises $114 million
Berlin-based fintech startup Vivid Money has raised $114 million at a valuation of 775 million Euros. The Series C round was led by Greenoaks Capital with the participation of Ribbit Capital and SoftBank Vision Fund 2.
Founded in 2020, Vivid Money offers banking, saving and investing services to over 500k customers. It is live in Germany, France, Spain and Italy with plans to be available across Europe by the end of 2023.
The startup also promotes insurance on its platform, featuring companies such as AXA , Getsafe , and Friendsurance .
“Our customers need more than just a banking app; they need a place where they can save, invest, and organize their daily financial matters. Our vision is to become the one place where they can do that. We are excited to welcome the SoftBank Vision Fund 2 as our new partner, and we are delighted to continue working with our existing partners Greenoaks and Ribbit. We’re now ready to strengthen our existing product and expand it further by connecting our customers to each other and establishing a community of like-minded people who are dedicated to learning and growing their money together.” – Artem Iamanov, co-founder of Vivid Money.
“In just over a year, Vivid Money has already built one of Europe’s most beloved consumer banking platforms, allowing users to manage their entire financial lives in a single app. Since we invested last year, we’ve been thrilled to watch their rapid pace of new product development, which has delighted existing users, attracted new customers, and deepened the platform’s value proposition. We think we are still in the first innings of a revolution in consumer banking, and we are delighted to further our partnership with Vivid as they continue to scale.” – Patrick Backhouse, partner at Greenoaks.
“There are those who see retail investors as easy sources of revenue, either by betting against them, selling their orders to others, or encouraging risky investing behavior through casino-like tactics. We believe our clients deserve better. By educating them, connecting them with each other and giving them a variety of responsible investing options, we believe we can be a company that fights for our customers.” – Alexander Emeshev, co-founder of Vivid Money.