Vivid receives its own investment license

Thursday 25 August 2022 14:16 CET | News

Germany-based neobank Vivid has received an investment license from the Dutch Financial Supervisory Authority AFM via its Dutch unit Vivid Money.


Vivid is a financial service platform that offers banking and investment services in their app. They offer a wide range of financial services, including savings accounts, multi-currency accounts, and investments in stocks and crypto. Vivid aims to offer users a tool to generate more of their own money and reach financial independence.

Vivid's cashback offer

The financial service platform also offers its customers cashback on card purchases. Prime users receive a guaranteed 1.5% cashback, whereas Standard user receive 0.5%. Additionally, users receive more cashback on non-euro purchases, with Prime users getting 2% cashback and Standard customers getting 1%. This means that users can receive up to EUR 150 in total per month for their Vivid Card usage.

The neobank offers customers various savings and investment products in addition to a current account and a free Visa debit card. Customers can invest their money not only in stocks and funds but also in cryptocurrencies. Most recently, the company introduced an instalment payment service under the name 'Vivid Now'.

Recent investments 

According to a Vivid representative, the neobank now has over 500,000 customers, with over half of them located in Germany. In February 2022, Vivid received EUR 100 million from financial investors, with which the company doubled its valuation to EUR 775 million. Vivid’s investors include Ribbit Capital, Greenoaks Capital, and the SoftBank Vision Fund 2.

Vivid Money is licensed by the Dutch Authority for the Financial Markets (AFM) and will therefore be enabled to receive and send orders, as well as hold clients' financial instruments in custody. The license also provides clients with a wider range of products and services, including margin trading and investment recommendations.

The new investment license

According to Vivid’s press release, the investment license will allow the company to produce new investment products for their clients, bring them to market, and launch them in their app in combination with their existing banking services. Additionally, this license means that Vivid receives direct access to the global stock market, the custody of securities, and to cashback in real assets.

A Vivid representative, quoted in the Vivid press release, states that they have already launched investment products for fractional shares, in collaboration with their partner CM-Equity, that have enabled their customers to begin investing. The representative also mentions that alongside cryptocurrencies, access to the financial markets remains a core element of Vivid’s vision of enabling customers to reach financial independence. 

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Keywords: expansion, banking license, cashback, mobile banking, banking
Categories: Banking & Fintech
Companies: Vivid
Countries: Germany, Netherlands
This article is part of category

Banking & Fintech


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