Barcelona, September 25, 2024 – The European financial platform Vivid is launching today its new Vivid Business proposition for companies and freelancers in Spain. New companies and freelancers will receive up to 5 percent annual interest through the new Vivid interest account during the first two months. This new proposition, along with the remuneration proposition for individual users, is part of Vivid's mission of making financial management easy and enjoyable for both individuals and business clients.“This new proposal for business clients is focused on helping them benefit from the current interest rates, since there is not much on offer for them on the market,” says Alexander Emeshev, co-founder of Vivid Money. “We want to become the company that also helps to grow this business segment by offering the best-in-class functionalities as well as we do for our private customers.”
Industry-leading 5 percent annual interest rate
In addition to private customers, businesses will now finally also profit from high-interest rates. Corporate and Freelance customers will receive a fixed amount of industry-leading 5 percent interest on up to 10 million euros or up to 100.000 euros respectively within the first two months. Unlike incumbent products, with Vivid Business, companies have access to the funds of the interest account at all times. It can be deposited and withdrawn anytime within seconds and free of charge. The money is invested in short-term money market funds. With that, Vivid is combining the best of all worlds – high-interest rates and instant liquidity. Companies can always face unexpected outflows, but thanks to Vivid’s interest account, companies can store their funds safely, earn interest and still access the money 24/7. After this two month period, the businesses will receive up to 3.5 percent annual interest depending on the plan they select.
Unlimited Accounts and Cards with Advanced Fraud Prevention
Vivid Business for small and medium-sized enterprises allows companies to open a corporate account in just minutes. Once onboarded, businesses can create unlimited sub accounts, each with its own IBAN. Vivid's in-house transaction monitoring system ensures state-of-the-art fraud prevention, allowing high limits on personalized VISA business cards. These cards can be customized for different transaction categories, making them ideal for high-value corporate transactions.
Corporate and personal financial management in one app
Vivid Business combines personal and corporate finances in one app while keeping them clearly separated. Corporate customers gain access to a dedicated business space for managing all accounts, with the ability to invite users to multiple companies. Key features include easy management of team members, setting limits, and scanning receipts on the go.
For more complex tasks, the new Business Space offers a desktop version, mirroring the familiar app design. Vivid’s 24/7 support ensures help is always just a moment away.
Vivid double downs on local markets
Since managing one’s business and finances is a local matter, Vivid is appointing local country managers for the first time. Since the beginning of September, Armando Platero for Spain has taken over. Platero has been working in the financial industry for several years. He held positions at DEGIRO Spain and Woolsocks, among others. He will start to build teams in the dedicated market, developing and localizing the offering to the needs of customers in Spain.
Vivid Business for companies is now available for all business customers in Spain and offers a free plan. The additional plans, Basic, Pro and Enterprise, start at 7 euros monthly. More information and a full overview of prices and functions can be found at https://vivid.money/business/.
About Vivid
Vivid is the first financial services platform that combines all your financial needs into a single, user-friendly app, making managing your finances easy and comfortable. Whether it's spending, controlling your finances, saving, or investing, Vivid offers a seamless, flexible, and transparent solution designed to help you grow your money effortlessly. In addition to personal finance solutions, Vivid also serves businesses with dedicated accounts that simplify financial management, payments, and investments. Serving over 500,000 customers across Europe, Vivid offers a wide range of services, including savings accounts, multi-currency accounts, and investments in stocks and crypto, all without hidden fees. Founded in 2019 in Berlin, Vivid is supported by an international team of over 200 experts. The company has secured more than 200 million euros in funding from renowned investors such as Ribbit Capital, Greenoaks Capital, and SoftBank Vision Fund 2, reaching a valuation of 775 million euros in its latest funding round in 2022.
For more information, please visit https://vivid.money/
Accounts, cards and payments services are provided by Vivid Money S.A., part of Vivid Money group, financial institution authorised and regulated by the Commission de Surveillance du Secteur Financier of Luxembourg.
Interest accounts are provided by Vivid Money B.V., part of Vivid Money group, a financial institution authorised and regulated by the Dutch Authority for Financial Markets (AFM). The promotional 5% annual interest rate applies for the first two months to funds up to 10 million EUR for companies accounts and up to 100 000 EUR for freelancer accounts. The rates are fixed but may be subject to change based on market conditions or the company’s discretionary decisions. Any changes will be communicated in advance.