πŸ’”

Goodbye Vitamin

We regret to inform you that we will have to cease operations on June 15th, 2023. Here you can find the most up-to-date information regarding the closure of Vitamin.

πŸ˜žπŸ‘‹

Unfortunately, our Vitamin journey is coming to an end.

This means that Grow Female Wealth GmbH will be liquidated, and Vitamin’s operations will be discontinued on June 15, 2023.

Therefore, we kindly ask you to close your Vitamin investment account and to liquidate your investments by June 15, 2023.


Your invested funds will be transferred back to your reference account and monthly contributions will be stopped. Until June 15, 2023, you can log into your Vitamin account as usual.
All further information can be found in our FAQs at the bottom of this page.

Thank you for trusting Vitamin and supporting our mission to power strong financial futures for all women.

How to close your
Vitamin account

πŸ’° Funded Investment Account  

I have already invested with Vitamin

To close your Vitamin investment account including liquidating your investments, we have prepared a template for you to easily use. Please make sure to send the email from the address you used to create the account, so we can make sure it is you. Once we receive your request, we will close your investment account and your investments and inform you about the next steps.

πŸ‘‰ Unfunded Investment Account

I have not yet invested with Vitamin, but I have already opened an investment account.

To close your Vitamin investment account, we have prepared a template for you that you can simply email. Please make sure to send the email from the address you used to create the account, so we can make sure it is you. Once we receive your request, we will close your investment account.

What will happen from
June 15th, 2023?

Effective from June 15th, 2023, the contract between you and Grow Female Wealth GmbH (the company behind Vitamin), as well as your Vitamin investment account will be terminated.

If you are unable to close your investment account by June 15th, 2023, we will automatically close your investment account and, if applicable, transfer the outstanding value of your investment portfolio back to your reference account.

πŸ’‘

Starting from June 16th, 2023, access to your Vitamin user account will no longer be possible. Additionally, the Vitamin support team will also no longer be available after this time.

Why is Vitamin ceasing operations?

The Grow Female Wealth GmbH, the company behind Vitamin, initiated liquidation of the company on May 31, 2023, as it was unable to secure further follow-up financing in recent months. Although our product offering and our Vitamin brand has received great feedback and usage from many of you, the current challenges of the market environment have made funds more risk averse and financing for consumer focused fintech businesses is very challenging at the moment. This has ended up in us not being able to secure the funding to continue our operations.

A mission that should
go on

Female finances have been and remain a personal and important cause for the founders and the entire team at Vitamin.

Despite addressing 50% of the population, the topic is still considered niche and requires a lot of educational efforts. Unfortunately, in the last year, the fundraising environment has become increasingly risk averse, and topics like female finance, which require a long-term commitment, have taken a back seat.

Despite Vitamin having launched a learning and investing product, onboarding thousands of women to the topic of finances and investing, the timing was wrong. The founders are fully convinced that there is a bright future for female-focused products in finance and that there will be a solution to tackle this global opportunity. Vitamin wishes other companies who have made it their goal to promote the topic of female finances every bit of success .

You can find more about Vitamin’s mission here.

The next step on your financial journey

Even though our journey together comes to an end here, it doesn’t mean that your progress towards a strong financial future has to end here as well. Keep going and don’t let the moment slip away. You have already learned new things or even started investing – those are huge milestones! To seamlessly continue on your financial journey, we have prepared exclusive offers with our partners. Enhance your financial know-how or continue investing directly.

Level up your financial knowledge with beatvest

Whether you’re a beginner or already experienced, at beatvest you’ll learn everything about investing for your financial future.

Stay up-to-date with important insights and build long-term wealth. Completely free from confusing financial jargon – in just 3 minutes per day.

Our tip: quirion. Your new partner for investing. Get an exclusive €75 bonus* for your ETF savings plan

We are delighted that we have taken the first steps together towards active investment. With quirion, you can continue this journey successfully.

'Returns for everyone' is a vision for the robo-advisor. And it has been highly successful, as over 65,000 clients (35% of whom are women) already rely on quirion's multiple award-winning ETF-based investment model. As a result, this robo-advisor has been named the winner of Stiftung Warentest, a renowned German consumer organization, twice.

For all Vitamin users, we have an exclusive offer: Use the code Vitamin23 to get a bonus of €75 for your quirion savings plan (*with a minimum duration of 6 months and a minimum savings rate of €25).

FAQs?

How can I contact Vitamin support?

Until June 15, 2023, you can reach the Vitamin support team at support@joinvitamin.com. Additionally, you have the option to schedule here a video call with Vitamin founder Andrea Fernandez from May 31 to June 15, 2023.

What are the effects of Vitamin's liquidation on me as a customer?

As we unfortunately have to completely shut down Vitamin's operations, it also means bidding farewell to you as a user. Depending on your individual usage of Vitamin, this may imply the following until June 15, 2023:

  1. You must close your verified and opened Vitamin investment account, even if you have not started investing yet.

  2. In addition to closing your investment account, you need to request the dissolution of your investments with Vitamin. This will enable us to transfer your invested funds from your investment portfolio back to your reference account. Rest assured that if you have used Vitamin to invest money, your investments belong to you and are unaffected by the liquidation process.

We have also searched for a comparable, cost-effective, and trustworthy provider where you can continue your financial journey. You can find more information about this under the section "Where can I invest my money now?" Until June 15, 2023, you can log in to your Vitamin user account as usual. Please note that we will no longer process any inquiries after this date. For more information on special exceptions and individual cases, please refer to our FAQ.

The total value of my investments at Vitamin is currently below my initial investment amount. Will I lose my money?

Due to fluctuations in the stock market, it is possible that the current total value of your investment may be lower than your original investment amount. You can find information about the current total value of your investment on your Vitamin dashboard. However, we will fully compensate for this loss, so that after the dissolution of your investment account, you will receive the full amount of your original investment on your reference account.

What is my reference account?

If you have invested with Vitamin, you provided a reference account when creating your investment account, from which your one-time investment amount and/or monthly contributions were debited. You can view this account under "Invest" >> "Connected bank account" in your Vitamin user account. We will transfer your investment balance back to this reference account.

How can I close my Vitamin user account?

To close your Vitamin user account, please send us an email to support@joinvitamin.com. We have prepared a template for you that you can use easily. Please make sure to send the email from the address you used to create your account so we can verify it's you. Once we receive your request, we will close your user account and inform you about the next steps.

I haven't invested with Vitamin yet, but I have already opened an investment account, how do I dissolve it along with my Vitamin user account?

To dissolve your Vitamin user account and your unfunded investment account, please send us an email at support@joinvitamin.com. We have prepared a template for you that you can use easily. Please make sure to send the email from the address you used to create your account so we can verify it's you. Once we receive your request, we will close your user account and investment account, and inform you about the next steps.

I have already invested with Vitamin, how do I close my Vitamin user account and my funded investment account, including my investments?

To close your Vitamin user account, including your Vitamin investment account with your investments, please, send us an email to support@joinvitamin.com. We have prepared a template that you can easily use. Please make sure to send the email from the address you used to create the account, so we can verify it's you. Once we receive your request, we will proceed with closing your user account and liquidating your investment account, including your investments, stopping any monthly contributions, and inform you about the next steps.

What happens to my invested money?

Vitamin will transfer the amount of your investments to your reference account within 4 business days. If the current total value of your investments with Vitamin is lower than your original investment amount, we will fully compensate you for this loss. Therefore, after the liquidation of your investment account, you will receive the amount of your investments back on your reference account. By June 15th you will receive a separate transfer that will fully cover your losses.

What happens if I do not close my Vitamin user account by June 15, 2023?

On June 15, 2023, the contract between you and Grow Female Wealth GmbH Account is terminated. If you are unable to close your user account on your own by June 15, 2023, we will automatically close it for you. Starting from June 16, 2023, you will no longer be able to access your Vitamin user account, and Vitamin support will no longer be available to you.

What happens if I haven't closed my Vitamin account by June 15, 2023?

On June 15th, 2023, the contract between you and Grow Female Wealth GmbH, as well as your Vitamin account, will be terminated. If you are unable to close your account by yourself until 15.06.2023, we will automatically close your account and, if applicable, transfer the outstanding value of your investment portfolio back to your reference account From June 16th, 2023, access to your Vitamin account will no longer be possible. Likewise, Vitamin support will no longer be available to you from this point forward.

What happens to my user data?

Vitamin safely and securely stores your data. If you opened an investment account with us, we are obliged by law to store your data for 10 years. If you haven’t opened an investment account with us, we will store your data for 1 year. After the expiration of these time periods we will delete your data. If you would like your data to be deleted before, you can send us a request to data@joinvitamin.com

Until when can I log in to my Vitamin user account?

Until June 15th, 2023, you can log in to your Vitamin user account as usual. After June 16th, 2023, access to your Vitamin user account will no longer be possible. Similarly, Vitamin support will no longer be available to you from that point forward.

Where can I invest my money now?

We would like to thank you for your trust in Vitamin. We understand that your financial journey has likely already cost you a lot of effort and time. We also know how challenging it can be to find the right provider or service for your finances.

For this reason, we have searched for a comparable, cost-effective, and above all, secure provider where you can continue your financial journey. We would like to introduce quirion to you as a potential new home for your savings. quirion is a classic passive robo-advisor that was initially established as a brand of Quirion Privatbank AG in 2013 before becoming an independent AG five years later. As a two-time winner of Stiftung Warentest, quirion offers you a professional ETF portfolio at extremely low costs. As a Vitamin user, an exclusive offer awaits you if you switch: By using the code Vitamin23, you can get a bonus of €75 until June 30, 2023. You can find further information about quirion and the terms and conditions of this offer here.

We hope that you continue to take advantage of the opportunities available to you in order to achieve your financial goals. You have already taken the first step by investing in Vitamin or acquiring new financial knowledge. Now, don't lose your courage and momentum; stay committed and invest monthly in your future self.

How does the switch to quirion work?

We regret that the transfer from Vitamin to quirion cannot be done automatically. You must close your investment account with Vitamin and, if necessary, withdraw your investments. At the same time, you can already register with quirion.

But don't worry, as a Vitamin user, you have a special advantage: You can secure an exclusive new customer bonus of €75 at quirion until June 30, 2023. Just follow these steps to receive the bonus:

  1. Receive a free investment proposal tailored to your needs.
  2. Register with the promotional code "Vitamin23".
  3. Complete the verification process and open your account with quirion.
  4. Set up a savings plan with a minimum monthly savings rate of €25.
  5. After a minimum period of 6 months, you will receive the bonus of €75.

You can get started right away by following this link.

Will the free learning content from Vitamin still be available?

Unfortunately, the Vitamin learning materials will no longer be available after May 31, 2023.


But don't worry! We still want to support you in strengthening your financial knowledge. That's why we'd like to introduce you to beatvest. The founders, Sophie Thurner and Julia Kruslin, have developed an app that makes financial education easily accessible, fact-based, and understandable.

With beatvest, you can learn in a beginner-friendly investment environment divided into two stages: education and virtual investing. You can conveniently learn on the go by using the app and completing short daily lessons that last a maximum of 3 minutes. It's an incredibly easy way to expand your financial knowledge.


Sign up for beatvest here and get started right away. We're confident that the app will help you achieve your financial goals.