"We don't have billions at our disposal to burn a lot of money"

Vivid Money has only been around since 2019. Now the neobank is aiming for profitability.

The smartphone bank Vivid Money is still making losses. However, according to co-founder Alexander Emeshev, this could soon change. "We estimate that we will reach the first profitability threshold in less than two years, in around twelve to 24 months," he told the German Press Agency. By then at the latest, the start-up would like to cover all expenses with its current income.

However, the costs for possible takeovers and new products are not included in the forecast. Vivid Money's growth should also be profitable by 2025 at the latest. This step is particularly important to Alexander Emeshev, as he told dpa: "From this point onwards, you are no longer reliant on investor money, as you can stop making paid acquisitions and become profitable immediately. So we are only asking for money to accelerate our growth. We don't have billions at our disposal to burn a lot of money."

Artem Yamanov and Alexander Emeshev founded Vivid Money in 2019. The Berlin start-up's banking app also allows users to invest in shares and cryptocurrencies. They receive cashback for their spending, which increases when their shares rise in value. Vivid does not have its own banking license and uses the services of its partner, Solarisbank.