Vivid Money, a Berlin-based digital banking service, is launching today in partnership with solarisBank and Visa. The company claims to be the first mobile-first full-service banking solution, offering cashback programs, sub-accounts in foreign currencies and eventually, investment products, in a single app.
Founded in 2019 by Artem Yamanov and Alexander Emeshev, the fintech company already employs over 130 people as it launches into its first market. Both founders previously worked for Russian banks and met at Tinkoff, an online financial and lifestyle services provider run by TCS Group Holding. TCS has agreed to become an anchor seed investor, though the investment amount was not disclosed.
Vivid is working with solarisBank, which provides a fully licensed Banking-as-a-Service platform through which Vivid can operate. “We reduce time to market significantly and enable Vivid Money to compose an attractive offering that allows them to grow fast,” says Roland Folz, CEO of solarisBank.
The app is also launching with Visa as an exclusive payment technology partner for Europe. After opening an account, Vivid users will receive an anonymized, metal Visa debit card.
“The payment behavior in Germany is currently changing rapidly – consumers increasingly want to pay digitally – mobile and contactless. This is why the launch of the mobile-first Visa Debit card by Vivid comes exactly at the right point in time,” says Albrecht Kiel, Visa’s regional managing director of central Europe.
Image: Vivid Money co-founders Artem Yamanov and Alexander Emeshev