Ribbit Capital is leading the investment. The funding round gives Vivid Money a valuation of USD 117 million. Built on top of Solarisbank for the banking infrastructure, Vivid Money is a challenger bank with mobile features.
When signing up, the user gets a current account and a metal debit card. The card can be controlled from the app. It also works with Apple Pay or Google Pay. Users can also create sub-accounts called pockets. Vivid Money users can send money to other users from the app. The startup also analyses one’s transactions to identify the recurring subscriptions.
Right now, Vivid Money is only available in Germany. However, the company has plans to expand to other European countries. While there are currently some cashback features, the startup wants to soon allow users to make investments using the app, giving them the possibility to buy shares and ETFs.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.