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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.

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