The rise of online and mobile banking has been particularly noticeable in recent years. However, though digitisation of financial services may have been coming for a long time, it is only in recent years that we have begun to see the real potential of this industry to revolutionise the ways we think about money.
Leading the charge in Europe is German startup Vivid Money. Its platform allows users to send, receive, spend, invest and save money in different ways. Framed as a competitor to Revolut, Vivid is hoping to disrupt the market of existing online financial services from the big banks all the way to retail trader platforms.
Founded in 2020, Vivid has already attracted enormous investor interest, leading to some impressive funding rounds. This new funding will be used to develop Vivid's own "superapp", make hires across Europe, and boost marketing efforts. This will allow it to build on impressive early metrics: in its first full year of operation Vivid built a customer base of over 500,000. If it can keep this up, Vivid looks set to make massive waves in the European financial industry and beyond.
Kirsty
Company Specialist at Welcome to the Jungle