Vivid Money announces €60m fundraising

Berlin-based financial platform Vivid Money has secured €60 million in a Series B funding round as it eyes further expansion.

The fundraising, which brings the company’s valuation to €360 million, was led by new investor Greenoaks, with participation from existing investor Ribbit Capital.

Vivid Money said that it will use the investment to drive expansion into key markets in Europe and to build out the platform with more features.

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 organise 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.”

“We believe that the end-state in this market is the all-in-one digital banking and investments product that Vivid Money is building,” added 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.”

The financial platform launched in Germany in 2020.

Earlier this month, Ribbit Capital joined Plaid’s Series D funding round, raising $425 million.