German Challenger Bank Vivid Money Secures EUR 60 Million for European Expansion

German Challenger Bank Vivid Money Secures EUR 60 Million for European Expansion

by May 3, 2021
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Berlin-based mobile banking app Vivid Money announced an investment of EUR 60 million, bringing the company’s valuation to EUR 360 million.

The Series B round was led by Greenoaks with participation from existing investor Ribbit Capital.

The new investment will drive expansion into key markets in Europe, as well as helping to build out the platform with more features.

Vivid Money launched its financial platform in 2020 in Germany, offering a single-app solution that breaks down the boundaries between saving, spending and investments.

Artem Yamanov, co-founder of Vivid Money

Artem Yamanov

“This latest round of investment is a strong signal of support for our vision of a better future for European retail investors and customers. With our new partner, Greenoaks, as well as the continued support from Ribbit Capital, we are well positioned to keep growing and expanding our business.

 

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.”

said Artem Yamanov, Co-Founder of Vivid Money.

 

Featured image credit: Screengrab from Vivid Money

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