Berlin-based challenger bank Vivid Money has raised $60m from a Series B funding round led by Greenoaks.
The funding round also saw participation from existing investor Ribbit Capital. Following the Series B, Vivid has a valuation of ?360m. Vivid previously raised a $17.6m Series A round in November 2020.
Established in 2019, Vivid provides spending, saving and investment tools in a single app. The app provides a German IBAN for users, as well as share and crypto trading, money management and peer-to-peer payments features. The company began accepting customers in June of last year.
According to Vivid, it will use the new influx of capital for product development as well as help the company expand into new European markets. Currently, the company is trading in Germany, Italy, France and Spain.
?Vivid co-founder Artem Yamanov said, ?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.”
Copyright ? 2021 FinTech Global
