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vivid money raises $17.6 million for its european challenger bank

AVATAR Romain Dillet
Romain Dillet
Senior Reporter
•November 5, 2020
Topics:challenger bankEuropeEuropeFintechneobankRibbit CapitalStartupsStartupsVivid Money
vivid money raises $17.6 million for its european challenger bank

Vivid Money, a German financial technology company, has successfully secured $17.6 million in Series A funding, equivalent to €15 million. This investment round was spearheaded by Ribbit Capital, and has resulted in a company valuation of $117 million (€100 million).

As a relatively new entrant to the market, Vivid Money began onboarding customers only a few months ago. The company’s banking infrastructure is powered by Solarisbank, enabling Vivid Money to function as a modern challenger bank with several innovative capabilities.

Upon registration, customers receive a current account alongside a metal debit card. The card’s functionality is managed through a dedicated mobile application, allowing users to easily lock and unlock it as needed. It is also compatible with both Apple Pay and Google Pay for convenient digital transactions.

The platform allows users to establish separate accounts known as “pockets,” each possessing its own unique IBAN. These pockets can be shared with other individuals, and the primary card can be linked to a specific pocket. Users also have the option to request additional physical cards for a fee of €20 each, or obtain a virtual card for just €1.

Vivid Money also provides transaction analysis to automatically detect recurring subscription payments, giving users the ability to prevent future charges. The app also facilitates peer-to-peer money transfers, and allows users to create shareable links for recipients to input their banking information.

The service includes cash-back rewards with select partner merchants. Furthermore, the company is preparing to integrate investment options directly within the app, enabling users to purchase stocks and Exchange Traded Funds (ETFs).

Vivid Money offers two account tiers: a no-cost basic plan and a premium subscription priced at €9.90 monthly. Subscribers to the premium plan benefit from increased cash-back limits, expanded cash-back earning opportunities, higher cash withdrawal allowances, and a complimentary virtual card.

Currently, Vivid Money’s services are limited to customers in Germany. However, the company intends to broaden its reach by expanding operations into other nations across Europe.

#Vivid Money#challenger bank#fintech#funding#investment#Europe

Romain Dillet

Romain Dillet served as a Senior Reporter for TechCrunch until April 2025. He authored more than 3,500 pieces focusing on technology and emerging tech companies, becoming a recognized and respected commentator within the European technology landscape. His expertise encompasses a broad range of areas, including startups, artificial intelligence, financial technology, data protection, cybersecurity, blockchain technology, mobile technology, social media, and the media industry. Having spent thirteen years with TechCrunch, he became a well-known figure at the publication renowned for its comprehensive coverage of Silicon Valley and the broader technology sector – he initially joined TechCrunch at the age of 21. Situated in Paris, he is widely regarded by many within the technology community as a highly informed tech journalist. Romain has a talent for identifying promising startups at an early stage. He was the first journalist to report on Revolut, Alan, and N26. He also broke stories regarding significant acquisitions made by Apple, Microsoft, and Snap. Beyond his writing, Romain also possesses skills as a software developer, giving him insight into the technical aspects of the technologies he covers. He also maintains a comprehensive understanding of the history of computing over the last half-century, allowing him to effectively analyze the connections between new developments and their societal impact. Romain is an alumnus of Emlyon Business School, a prominent French business school with a specialization in entrepreneurship. He has also contributed his time and expertise to various charitable organizations, including StartHer, which focuses on advancing education and empowerment for women in the technology field, and Techfugees, an organization dedicated to assisting displaced individuals through the use of technology.
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Romain Dillet