German fintech Vivid Money buys Pile’s treasury solution

Vivid Money Acquires Pile: Key Points

1. Acquisition Announcement:
   • Berlin-based fintech Vivid Money has acquired fellow German fintech Pile to enhance its treasury solution capabilities.
2. Expansion of Vivid Business:
   • The acquisition aims to expand Vivid Business, launched in January, which combines corporate and personal financial management for SMEs.
3. Treasury Solution for SMEs:
   • Pile’s treasury solution, touted as the first for SMEs across Europe, will bolster Vivid Business with simplified money transfers, consolidated account functions, and automated financial reporting.
4. Integration Phases:
   • Integration will occur in two phases:
     1. Pile’s customers will transition to Vivid’s services.
     2. Integration of Pile’s treasury offerings, such as the multi-banking feature, into Vivid’s product portfolio.
5. Operational Transition:
   • The Pile team, consisting of 10 members, will support the transformation process and may join Vivid long-term.
6. Leadership and Advisory Role:
   • Jessica Holzbach, founder of Pile, will serve as an advisor to Vivid to ensure a smooth transition.
7. Strategic Commentary:
   • Jessica Holzbach noted that Pile’s potential can be fully realized as part of a larger financial platform.
   • Alexander Emeshev, co-founder of Vivid, highlighted that the acquisition will expand their business segment and offer a broader product range to joint customers.