German fintech Vivid Money has secured €60m ($73m) in a Series B funding round to fuel its European expansion.

The round was led by Greenoaks, while the company’s existing investor Ribbit Capital also participated.

The latest fundraising increases Vivid Money’s valuation to €360m.

Founded in 2019, Vivid Money enables customers to spend, save, invest or transact money through a single app.

The company launched its financial platform last year in Germany.

Vivid Money offers a free metal debit card, subscription control and spending breakdown reports. It also provides 15 free sub-accounts known as Pockets that can be shared with others and helps customers to save money.

Users can tap Vivid’s fractional share feature to invest in shares and crypto assets.

Vivid Money plans to use the new proceeds to support its expansion in key European markets. A portion of the amount will be used to add new features to the platform.

Vivid Money co-founder Artem Yamanov said: “This latest round of investment is a strong signal of support for our vision of a better future for European retail investors and customers.

“With our new partner, Greenoaks, as well as the continued support from Ribbit Capital, we are well positioned to keep growing and expanding our business.

“We want to enable our users to organise all their financial needs — investments, savings, stocks and crypto assets, as well as financial education — in one single app. That is how we have set ourselves apart from the competition and how we plan to attract more customers across Europe.”

In November last year, Vivid Money raised $17.6m in a Series A funding round.