Berlin, January 10th, 2024 – Today, the Berlin-based mobile finance platform Vivid announces the acquisition of the Luxembourg fintech Joompay. Joompay was previously part of Joom, an international group of eCommerce and fintech companies. With this transaction, Vivid also took over Joom’s E-Money Licence in Luxembourg, which is fully passported to all EU countries. This will allow the German company to expand its products and services to the whole European Union to make significant progress in the company’s mission to offer a flexible and transparent financial solution to everyone in Europe.
“I am personally very proud about this incredible step of Vivid and I welcome Joompay to Vivid. Since the beginning, the Joompay team has done an incredible job of building an impressive infrastructure and customer-friendly app which will be the foundation for future Vivid products”, says Alexander Emeshev, Co-Founder of Vivid. “The E-Money licence joins our wide portfolio of licenses all over Europe. It will allow us to develop and launch even more products more independently and bring it to many more Europeans.”
Ilya Shirokov, CEO and founder of Joom, said: “We are proud that we built a modern, technologically advanced payment service, Joompay, which has become in demand in the market. The deal with Vivid, a German financial platform, proves our team's high-quality work”
Joompay Europe S.A. was renamed to Vivid Money S.A. The team of Joompay, which consists of 25 talents, is joining Vivid to build a superior payments and investment experience for millions of people in Europe. Joompay's existing over 500,000 customers all over Europe will join Vivid and, therefore, will have access to an even wider range of products and services. The technology platform and infrastructure of Joompay will be the foundation for future products which will soon be announced.
About Vivid
Vivid is the first financial service platform that combines all your daily money needs in one app. Whether it’s spending, saving or investing – Vivid offers an easy, flexible and transparent solution to grow your money. The company's mission is to provide its more than 500,000 customers throughout Europe with a superior payment and investment experience and to offer a wide range of financial services (including savings accounts, multi-currency accounts and investments in stocks and crypto) without unnecessary fees. Vivid was founded in 2019 in Berlin and consists of an international, highly qualified team of 200 employees. Vivid has already raised over 200 million euros from renowned investors, including Ribbit Capital, Greenoaks Capital and the SoftBank Vision Fund 2, and is valued at 775 million euros.
For more information, please visit https://vivid.money/
About Joom
Joom is an international group of eCommerce and fintech companies that was founded in June 2016 in Riga, Latvia. Joom currently includes the following businesses: Joom Marketplace, a platform for shopping from all over the world; Onfy, a pharmaceutical marketplace in Germany; JoomPro, a platform for crossborder wholesale trade.
Joom has offices in Latvia, China, Hong-Kong, the USA, Germany, Luxembourg and Portugal.