Neobank Vivid Acquires Berlin Fintech Pile
Vivid has finalized its acquisition of Pile, a prominent Berlin-based fintech specializing in treasury solutions for SMEs. This acquisition marks a strategic move for Vivid to enhance its financial management offerings for small and medium enterprises (SMEs), reinforcing its leadership in this sector.
Founded just two years ago by Jessica Holzbach, Pile quickly gained recognition for its innovative treasury solution, which allows business clients to earn three percent interest on deposited funds. The company attracted significant initial funding, including investments from industry veterans such as N26 co-founder Max Tayenthal and investor Carolin Gabor.
Vivid’s acquisition includes the integration of Pile’s treasury solution into its extensive banking services, aimed at broadening and deepening its product range for SMEs. Vivid initially launched its SME offering in January 2024, building on its consumer-focused product launched in June 2020.
Alexander Emeshev, Co-Founder of Vivid, emphasized the strategic alignment between Vivid and Pile’s market insights, stating, “The Pile team has identified a critical market need that aligns perfectly with our vision. Their innovative solutions will significantly enhance our SME offerings, allowing us to deliver a more comprehensive suite of financial tools to our shared customers.”
Jessica Holzbach, Founder and CEO of Pile, expressed enthusiasm about the partnership with Vivid, stating, “Partnering with Vivid enables us to leverage their extensive resources and advanced technological base to fully unlock the potential of Pile’s treasury solution. This collaboration will benefit our customers by providing them with a broader range of services and enhanced financial management capabilities.”
The integration process will proceed in two phases: starting July 2nd, Pile’s customers will have the opportunity to transition to Vivid’s comprehensive service platform. In subsequent phases, key features of Pile’s treasury solutions, including its popular multi-banking feature, will be seamlessly integrated into Vivid’s product portfolio.
The ten-member Pile team will play a pivotal role during the transition period, with opportunities to join the Vivid team in the long term. Jessica Holzbach will continue to advise Vivid during this period to ensure a smooth transition and integration of Pile’s technologies.