Vivid Money, a next-gen mobile banking application, has launched in France after a Series A fundraising, led by Ribbit Capital, which netted €15 million.
The German fintech, created in 2019, offers clients standard banking services, such as current accounts, but also investment solutions that stand out with new generation service offerings. By seeking to break down the border between banking services and investments, the neobank is setting up a “cashback” system for its users.
The system makes it possible to get 10% cashback from specific brands, including Bio c’Bon, Aldi or Netflix. Other brands, like Franprix or SNCF, offer 5% cashback.
Vivid Money carried out a series A fundraising in order to offer to be able to offer its services more widely in Europe. The operation was led by Ribbit Capital which, values the fintech at €100 million, after less than two years in existence.
At the same time, Vivid Money stressed that the launch of its services in France was to "allow French customers to make their money grow by providing them with the right tools to save without even thinking about it," in particular via cashback.
The neobank, without revealing where, also plans to settle in other European countries.
Edited by Ramata Diallo