Vivid Money is probably withdrawing from Russia

Around half of the start-up's employees are Russian nationals. Vivid Money has now apparently closed its Moscow office.

According to information from Finance Forward Vivid Money has closed its office in Moscow. More than 100 employees left Russia immediately after the start of the war against Ukraine. They are now moving to offices in Almaty, Kazakhstan, Limassol, Cyprus, Amsterdam and Berlin.

The founders of Vivid Money, Alexander Emeshev and Artem Yamanov, are two former managers of Tinkoff Bank. The start-up also received start-up financing from the Russian bank. However, Tinkoff's share is now only small, as new investors have joined since Vivid Money was founded in 2019 and Tinkoff has not followed suit. According to the start-up, half of its employees are Russian nationals.

Vivid Money is a neobank based in Berlin. With the start-up's banking app, users can invest in shares and cryptocurrencies. They also receive cashback for their daily spending.