Vivid grabs license

The Berlin-based fintech has won over the Dutch regulatory authority. Now it wants to become a super app.

Banking and investment start-up Vivid has secured an investment license. The Berlin-based company won over the Dutch Financial Markets Authority (AFM) and is now allowed to offer investment services on its own. According to Vivid, it is a big step for it to build what it calls a "super app."

The license is the first Vivid has secured since its launch in June 2020. The license now allows the startup to store, receive and forward financial instruments from customers. It is also possible to give general investment recommendations, according to the startup.

"With the investment license, we can now independently develop and launch the best investment products for our customers. We are proud to take this first big step in our young company's history together with one of the most prestigious financial regulators in Europe," said Esmond Berkhout CCRO and Executive Director of Vivid Money B.V..

Vivid was founded by Artem Iamanov and Alexander Emeshev and employs more than 350 people. In addition to its location in Germany, Vivid is also active in France, Spain and Italy and has raised more than 200 million euros in the meantime. The fintech offers a banking app with which users have the functions of a current account and can invest in shares and cryptocurrencies at the same time. This puts Vivid in competition not only with other neobanks such as N26 and Revolut, but also with online brokers such as Trade Republic. According to its own information, the start-up has over 500,000 users spread across Europe.