Vivid Money

Vivid Money, based in Germany, offers banking services to individuals and businesses via a mobile app, which include checking accounts and visa debit cards. The app also provides Personal Finance Management (PFM) tools that enable customers to track their finances and gain an understanding of how their money is being spent. In addition, the app also enables customers to create “pockets,” which are sub-accounts for specific purposes, under one main account. This option also allows customers to buy foreign currencies in advance at live exchange rates and store them in these pockets for future use.

Apart from banking products, the app also provides investment portfolios, which include cryptocurrencies such as Bitcoin and Ethereum, allowing customers to trade directly via the app. The app also provides cashback rewards of up to 25%, which is automatically stored in a customer's stock rewards pocket, and also grows depending on the performance of stocks in which customers have invested. Debit cards can also be linked with digital wallets such as Google Pay.

The company offers its products free of charge, but also offers a premium package, ‘Vivid Prime’, which is priced at EUR 9.90 per month. Additional features offered under Vivid Prime include higher cashback rewards, increased withdrawal limits, and more currency exchange options.

In January 2024, Vivid Money acquired Joompay, a FinTech company based in Luxembourg, with the aim of leveraging Joompay’s E-Money License to expand its services across the European Union. Following this, it successfully expanded into 23 additional EU countries.

Key customers and partnerships

As of February 2022, the company had over 500,000 customers.

Funding and financials

In February 2022, the company raised EUR 100 million (~USD 114 million) in Series C funding led by Greenoaks Capital. The round valued the company at EUR 775 million (~USD 886 million), more than double its reported valuation in April 2021. The fresh funds were intended to be funneled toward developing new banking and investment products as well as strengthening its operational presence in Europe by expanding its headcount in the region. As of the same date, the company claimed that its customer base had grown by over 5x since its last funding round in April 2021, to reach around 500,000 customers, while its revenue had increased by over 25x, since February 2021.