Vivid Money Lands €100M Series C Funding

Berlin-based mobile banking app Vivid Money has closed a €100 million Series C funding round at a €775 million valuation.

The round was led by Greenoaks Capital with participation from Ribbit Capital and SoftBank Vision Fund 2.

Launched in Germany in 2020, 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. The firm has built up a customer base of 500,000 across Europe and seen a 25 times increase in revenue over the last year.

The new funding will be used to build out a "superapp" with new features and services, to make hires across Europe, and boost marketing efforts.

Artem Iamanov, co-founder, Vivid Money, says: "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."

(Source: Finextra)