Vivid raises 100 million euros
Janina Gerhardt
| 07.02.2022
The Berlin-based start-up successfully closed its third financing round, doubling its valuation.
Neobank Vivid has raised €100 million in a recent funding round. The round was led by Greenoaks Capital. Ribbit Capital and Softbank Vision Fund 2 also participated. The company's valuation doubles to 775 million euros with this round, according to news agency dpa.
Vivid offers a banking app that allows users to have the features of a checking account while investing in stocks and cryptocurrencies. This puts Vivid in competition not only with other neobanks such as N26 and Revolut, but also with online brokers such as Trade Republic. With the new capital, Vivid aims to attract additional customers. It already has 500,000 users registered, but not all of them are active, he said. The startup also plans to use the money to hire new staff.
Artem Iamanov and Alexander Emeshev founded the start-up in 2020. Vivid now employs 350 people. In addition to its location in Germany, Vivid is also active in France, Spain and Italy.
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