Vivid Money secures €60 million in Series B to boost expansion
By Megha Bhattacharya
Berlin-based financial platform Vivid Money announced that it has raised €60 million in a Series B funding round bringing the company’s valuation to €360 million. The round was led by Greenoaks with participation from existing investor Ribbit Capital and is expected to help in the company’s expansion and product development. The new investment will drive expansion into key markets in Europe, as well as helping to build out the platform with more features.
“This latest round of investment is a strong signal of support for our vision of a better future for European retail investors and customers,” Artem Yamanov, co-founder of Vivid Money said. “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.”
Vivid Money launched its financial platform in 2020 in Germany, offering a single-app solution. The company strives to offer clients across Europe an outstanding user experience, helping to save money and make smart investment decisions with in-app financial education service.
“We believe that the end-state in this market is the all-in-one digital banking and investments product that Vivid Money is building.” said Greenoaks Partner Patrick Backhouse. “The team at Vivid Money has been executing extraordinarily fast having already launched banking, stocks and crypto investments, peer-to-peer payments, budgeting tools, and a services marketplace. We’re thrilled to partner with the Vivid team on this journey.”
“Our clients are our most valuable asset, and our goal is to help create a more secure financial future for them,” Alex Emeshev, co-founder of Vivid Money said. “By educating them and guiding them as they learn how to become investors, we are not only expanding access to financial products in a seamless and delightful way, but are also committed to helping our customers create long-lasting value.”
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