Vivid Acquires Pile’s Treasury-Solution to Strengthen Its Position in the SME Banking Market

July 2, 2024
  • Pile customers will find a new home with the European financial platform Vivid Money from 2 July. 
  • With this integration, Vivid plans to expand its financial offerings for small and medium-sized businesses and enhance cash management for its customers. 
  • Pile customers will gain access to a comprehensive range of services at special conditions.
  • Supported by renowned angel investors, Pile has established itself as a leading treasury and cash management solution for small businesses across Europe since its founding in 2022.

Berlin, July 2, 2024- The European financial platform Vivid Money today announced that it has acquired the treasury solution from Pile Capital. By integrating Pile's treasury solution, Vivid is expanding its offerings for SMEs, thereby reinforcing its leading position in the sector of financial management for SMEs. Vivid launched its SME offering in January 2024 and saw immediate adoption of its wide range of products. Initially, Vivid started in June 2020 with a consumer product. Pile’s treasury solution, which quickly gained prominent customers and partners, will be fully integrated into Vivid's extensive banking services.

Vivid Co-Founder, Alexander Emeshev:
"The Pile team has identified a critical market need that we also see among our customers. The excellent work of the Pile team provides the perfect foundation for expanding our business segment and allows us to offer our joint customers a broader and deeper product range."

Pile Founder and CEO, Jessica Holzbach:
"I am very pleased that we have found a strong partner in Vivid to help us address a central customer need. While we have already developed a powerful and innovative product with Pile, its true strengths and full potential can only be fully realized in combination with a comprehensive financial platform like Vivid.In collaboration with Vivid, Pile’s treasury solution can benefit from expanded resources, greater market access, and a more advanced technological base."

The transition will occur in two phases: starting July 2nd, Pile customers will have the opportunity to transition to Vivid's wide range of services. In the second phase, parts of the treasury offerings, such as Pile's popular multi-banking feature, will be integrated into Vivid's product portfolio.

The ten-member Pile team will accompany the transformation process and has the opportunity to become part of the Vivid team in the long term. Pile founder Jessica Holzbach will serve as an advisor to Vivid in the coming months to ensure a smooth transition.

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.

About Pile 
Pile is the first treasury solution for SMEs across Europe. The fintech's software helps start-ups, companies and VCs to optimize their capital management and reduce financial risks. The team has set itself the task of finally offering start-ups the financial dashboard they need to manage their financial processes independently of banks. Pile works with all major banks and provides SMEs with a modern, efficient and secure solution for their cash management. The Berlin-based fintech was founded in 2022 by former Penta founder Jessica Holzbach.