Berlin, August 24, 2022 – Vivid, the mobile banking and investment app, has received its investment licence from the Dutch Authority for the Financial Markets (AFM) via its Dutch entity Vivid Money B.V. The official permission to offer its own investment services is an important step for Vivid to become a financial Super App. It is the Berlin-headquartered company's first licence in its still young history. Vivid started in Germany in June 2020 with the vision of giving users a tool to make more of their own money and become financially independent.
"With the investment licence, we can now independently create the best investment products for our clients and bring them to market – combined with our banking services in one app. We are proud to take this first big step in our young company’s history with one of Europe’s most reputable financial supervisory authorities. From direct access to the global stock market to the custody of securities and cashback in real assets, obtaining the licence allows us to advance our mission even more independently," says Esmond Berkhout, CCRO and Executive Director of Vivid Money B.V. "I would also like to express my gratitude to the local authorities. The entire application process with the AFM and the Dutch Central Bank was characterised by an open and close exchange at eye level."
Vivid Money B.V. is licensed by the Dutch Authority for the Financial Markets (AFM). With this, Vivid Money B.V. will be able to receive and transmit orders and hold clients' financial instruments in custody. The license also allows to provide clients with more products and services, including margin trading and general investment recommendations.
Alexander Emeshev, Co-Founder of Vivid, adds: "With our partner CM-Equity AG, we have already launched investment products for fractional shares that have enabled our hundreds of thousands of customers to take their first steps into the world of investments. Alongside the world of cryptocurrencies, access to the financial markets is a fundamental component and driver of our vision of enabling customers to achieve financial independence. A big thank you goes to our Dutch team in Amsterdam, who have brought this project to life. I am looking forward to the other products we will soon be able to offer our clients throughout Europe.
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 over 500,000 customers throughout Europe with a superior banking 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 more than 300 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/