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Vivid Money may be pulling out of Russia

Sophie Deistler | 21.07.2022

Vivid Money may be pulling out of Russia — Alexander Emeshev ist Co-Gründer von Vivid Money. (Foto: Vivid Money)

About half of the startup's employees have Russian citizenship. Now Vivid Money has 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 right after the start of the war against Ukraine. They are now moving to locations in Almaty, Kazakhstan, Limassol, Cyprus, and Amsterdam and Berlin.

The founders of Vivid Money, Alexander Emeshev and Artem Yamanov, are two former managers of Tinkoff Bank. The startup had also received seed funding from the Russian bank. However, Tinkoff's share is now only small, as new investors have joined Vivid Money since its founding in 2019 and Tinkoff has not followed suit. According to the startup, half of its employees have Russian citizenship.

Vivid Money is a neobank based in Berlin. The startup's banking app allows users to invest in stocks and cryptocurrencies. They also receive cashback for their daily spending.

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