Draft:Vivid Money
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Vivid Money is an established European digital financial platform headquartered in Berlin, Germany, that combines the management of personal and business finances. It offers integrated financial, investment, and cryptocurrency services through a unified mobile and web platform.[1][2] Vivid operates in several European countries and is supported by investors such as Greenoaks Capital and DST Global.[1][2][3] Vivid with its subsidiaries holds different licenses such as the Electronic Money Institution (EMI) license,[4] an Investment Firm (MiFID),[5] and a Crypto Asset Service Provider (MiCAR)[6] license.
History
[edit]Vivid Money was founded in Berlin in 2019 by Alexander Emeshev and Artem Iamanov. The company started as a challenger bank built on Solarisbank's infrastructure, offering current accounts, debit cards, sub-accounts ("Pockets"), and cashback rewards to retail customers.[7]
In 2022, Vivid experienced significant developments. It received an investment services license from the Dutch Authority for the Financial Markets (AFM), enabling it to expand its product range to include stocks and funds.[5] That same year, it secured $114 million in funding, raising its valuation to $886 million.[1] Vivid also withdrew its application for an Irish e-money license, citing regulatory complexities, as it expanded its focus to other European markets.[8] Later in 2022, the company took over a portion of the customer base from the insolvent German neobank Nuri, further strengthening its retail footprint.[9]
In 2024, Vivid acquired a Luxembourg-based Electronic Money Institution as part of its strategic push into SME finance. The acquisition supported the rollout of multiple new business products and helped the company onboard more than 30,000 new SME clients in the European market.[10][11]
In the same year, Vivid also acquired the treasury technology of Berlin-based startup Pile to enhance its cash management capabilities for SMEs. The integration of Pile's solution was part of the company's broader expansion of financial infrastructure for business clients, particularly in the area of interest-bearing accounts and automated treasury workflows.[12]
Development of Business Services
[edit]In 2024, Vivid expanded its services to freelancers and small and medium-sized enterprises (SMEs).[3][13] The company introduced a range of business-oriented products, including interest-bearing accounts, invoicing tools, cashback, crypto staking, and accounting software integrations (such as DATEV) tailored to business clients.[14] With its licenses Vivid can now offer all its products and services across the European Union.
The expansion positioned Vivid as a European financial platform for both retail- and SME-customers. To support this expansion, Vivid acquired a Luxembourg-based Electronic Money Institution in 2024, enabling the launch of new SME-focused products and the onboarding of over 30,000 new business customers.[10] In the same year, Vivid also acquired the treasury technology of Berlin-based startup Pile to enhance its cash and interest management infrastructure for SMEs.[12]
Licensing and Regulation
[edit]Vivid operates through several licensed entities to provide regulated financial services within the European Union:
- Vivid Money S.A., based in Luxembourg, is supervised by the Commission de Surveillance du Secteur Financier (CSSF) and provides e-money accounts and payment services.[4]
- Vivid Money B.V., based in the Netherlands, is licensed by the Dutch Authority for the Financial Markets (AFM) and registered with De Nederlandsche Bank (DNB) to offer investment services under its MiFID License[5] and Crypto Asset Services under its MiCAR license.[6]
See also
[edit]References
[edit]- ^ a b c Lunden, Ingrid (2022-02-07). "Vivid Money, a financial super app, raises $114M at an $886M valuation to expand in Europe". TechCrunch. Retrieved 2025-06-12.
- ^ a b "Berlin-based fintech startup Vivid Money secures €100M at €775M valuation from SoftBank, others - Silicon Canals". 2022-02-08. Retrieved 2025-06-12.
- ^ a b "SoftBank-backed Vivid Money switches focus from retail to SME banking". Tech.eu. 2025-03-13. Retrieved 2025-06-12.
- ^ a b "VIVID MONEY S.A. (Luxembourg) - Company Profile and Review". thebanks.eu. Retrieved 2025-06-12.
- ^ a b c "Vivid Money erhält Investment-Lizenz". FAZ.NET (in German). 2022-08-24. Retrieved 2025-06-12.
- ^ a b "Vivid gains MiCAR licence for EU expansion". thepaypers.com. Retrieved 2025-06-12.
- ^ Dillet, Romain (2020-06-18). "Vivid is a new challenger bank built on top of Solarisbank". TechCrunch. Retrieved 2025-06-12.
- ^ "Revolut rival Vivid withdraws application for Irish e-money licence". The Irish Times. Retrieved 2025-06-12.
- ^ "Vivid Money takes over customer base from Nuri". thepaypers.com. Retrieved 2025-06-12.
- ^ a b "Handelsblatt". www.handelsblatt.com. Retrieved 2025-06-12.
- ^ "Vivid konzentriert sich voll auf KMU - und "räubert" bei der Konkurrenz". finanzbusiness.de (in German). 2025-03-12. Retrieved 2025-06-12.
- ^ a b Pathe, Tyler (4/7/2024). "German fintech Vivid Money buys Pile's treasury solution". Fintech Futures. Retrieved 2025-06-12.
{{cite web}}: Check date values in:|date=(help) - ^ Finanzmagazin, I. T.; Finanzmagazin /TW, I. T. (2025-03-14). "Vivid Money: Neobank-Rennen beendet – strategische Neuausrichtung zur Business-Bank". IT Finanzmagazin (in German). Retrieved 2025-06-12.
- ^ "Vivid Money Review 2025: Is This All-in-One Financial App Worth It?". www.matchmybroker.com. Retrieved 2025-06-12.