German-based fintech startup Vivid Money announced on Thursday it secured €15 million through its Series A funding round, which was led by venture capital firm Ribbit Capital. The investment brings Vivid Money’s valuation to €100 million.
Launched earlier this year, Vivid Money stated it offers users a “unique” mobile banking app, whether it’s payments, transfers, high-interest saving accounts, multi-currency accounts for travels, spendings reports, split bills.
“Banking needs to put the customer first — and in control. With our knowledge and experience, we strive to help our customers earn, grow, and increase their capital. Online banking needs to be very easy, and on the other hand, very safe. Vivid is a financial platform that lets customers live their economic life to the fullest and stands out.”
While speaking about the investment round, Artem Yamanov, co-founder of Vivid Money, stated:
“The partnership with Ribbit Capital gives us even more opportunities to complete our product in all its facets. Vivid users love our ever-expanding feature portfolio, which covers more and more needs around the topic of finance. After only a few months, we have been able to set ourselves apart from the competition. With this financing round, we are now a big step closer to our goal of offering an incomparable investment product throughout Europe.”
The investment round’s funds will be used to continue the growth and development of the Vivid Money platform.