Vivid Cash, a German challenger bank, is making preparations to launch in Eire amid growing competitors within the banking app house.
The Berlin-headquartered start-up raised €15m in early November to fund an enlargement round Europe.
The corporate has registered its Irish entity and employed a former Coinbase nation supervisor in Eire to supervise compliance and danger in Dublin.
“The staff is at the moment exploring choices for additional enlargement plans and the Irish market is certainly attention-grabbing for Vivid Cash,” an organization spokesman mentioned.
The corporate supplies a banking app and card for customers, very similar to the opposite fintech mainstays working round Europe. It has launched a month-to-month subscription service for extra options, a model additionally pursued by others within the trade to ramp up income streams.
Vivid is a brand new participant to the scene, having solely launched providers in its native Germany this yr with France developing as effectively.
In Eire will probably be getting into a busy market the place Revolut and N26 have amassed sturdy buyer bases in recent times – with the previous surpassing one million Irish customers in May.
Starling Bank, one other challenger, based by former AIB government Anne Boden, can be making preparations to launch in Eire and is pursuing a banking licence.
Sunday Indo Enterprise
