Vivid Money, Berlin-based fintech startup of former top managers of Tinkoff, has raised $114 million at a $885 million valuation.

Tinkoff reported that the startup more than doubled its valuation - in April 2021 it was $436 million. Investments were raised from Greenoaks Capital with the participation of Ribbit Capital and SoftBank Vision Fund 2.

Vivid Money will direct the money to expand the features in the app. The service wants to create a community for clients where they can receive services, invest, learn and get answers to questions about money and everything related to it. The startup plans to hire employees in the marketing department and develop educational sections in the application.

The startup has increased its customer base five times in a year up to 500,000. The revenue has grown 25 times, Vivid Money said, but did not disclose the amount.



The company was founded in Germany in 2020 by two former vice-presidents of TCS Group (Tinkoff head entity) Artem Yamanov and Alexander Emeshev. Through the application, it is possible to issue a debit card, deposit, transfer money, buy cryptocurrency and other assets.

In April 2021, Vivid Money raised $73 million at a $436 million valuation. The total investment exceeded 200 million euros ($228 million).

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