Everyone goes to super app – so does Vivid Money with new funding
Vivid Money raised 100 million euros for a super app, reaching its value at 775 million euros
The Berlin-based mobile banking app Vivid Money has completed a 100 million euros Series C funding round with a valuation of 775 million euros. The round was led by Greenoaks Capital with the participation of Ribbit Capital and SoftBank Vision Fund 2.
Vivid, launched in Germany in 2020, offers savings, spending and investment tools from a single app. Users receive German IBAN, stock and crypto transactions, P2P payments and money management functions.
The company has so far created a customer base of 500,000 users across Europe and has seen a 25-fold increase in its revenue in the last year.
The new funding will be used to create a “super app” with new features and services, but also to recruit across Europe and boost marketing efforts.
Artem Iamanov, co-founder of Vivid Money, said that customers need more than just a banking application, a place where they can save, invest and organize their day-to-day financial issues.