European financial platform Vivid Money has announced the acquisition of Pile Capital ’s treasure solution to strengthen its position in the SME banking market. Following this announcement, by integrating Pile’s treasury solution, Vivid is expected to further expand its offerings for small and medium-sized enterprises (SMEs), as well as strengthen its position in the sector of financial management for SMBs.

In addition, both companies will continue to focus on meeting the needs, preferences, and demands of clients and customers in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the industry. More information on the announcement Vivid represents a financial service platform that combines all daily money needs in one application, offering an easy, secure, and transparent solution for customers to grow their money. Pile is a treasury service for SMEs across the region of Europe.

The fintech’s software was designed the optimise the manner in which startups, companies, and VCs develop their capital management and reduce financial risks. Throughout the collaboration with Vivid, Pile’s treasury solution is expected to benefit from expanded resources, as well as a more advanced technology base and an optimised market access. The transition is set to occur in two phases.

Starting on July 2nd, Pile customers and clients will have the possibility to transition to Vivid’s wide range of solutions and products. During the second phase, parts of the treasury offerings, including Pile’s multi-banking feature, are expected to be integrated into Vivid’s suite of services in a secure and fast manner. At the same time, the Pile team will accompany the transformation process, while also being given the opportunity to become a part of the Vivid team in the long term.

Pile Founder is expected to serve as an advisor to Vivid in the following months in order to ensure a smooth, fast, and secure transition process. .