N26 announced a $300mln funding round, the largest private equity financing round for a fintech company in Europe in recent years
More than 2.3 million customers in 24 European markets (tripled in the last 12 months), more than €20 billion processed in transaction volume, over €1 billion in N26 accounts and now a company evaluation that hits 2,7 millions euros. Joining the Unicorn Club was just a matter of time (actually, it didn’t took a lot!) for the fintech startup ‘made in Berlin’ leaded by Valentin Stalf.
“N26 is the clear market leader in the European mobile banking industry – said Harley Miller, Principal at Insight Venture Partners, one of its investors – The company is ideally positioned to expand to the US market this year, and build a formidable global digital consumer brand.”
N26 has recently announced a $300 million Series D funding round, the largest private equity financing round for a fintech company in Europe in recent years. Led by New York-based venture capital and private equity firm Insight Venture Partners, the round also includes participation from GIC, Singapore’s sovereign wealth fund, and several existing investors as Tencent, Allianz X, Peter Thiel’s Valar Ventures, Li Ka-Shing’s Horizons Ventures, Earlybird Venture Capital, Redalpine Ventures and Greyhound Capital.
N26 will use the funding to drive global expansion, starting with the US launch of its mobile banking product in the first half of 2019. The company aims to reach over 100 million customers worldwide in the coming years .
Valentin Stalf, CEO and co-founder of N26, sounds really committed in doing an impact: “Around the world, millions of people still suffer from bad banking experiences and high fees. With Insight Venture Partners and GIC joining our renowned group of existing investors, N26 has the support of the best investors globally to disrupt one of the largest industries in the world.”
N26 makes banking flexible and more transparent for consumers. Whether it is existing features such as real-time notifications and no fees on card payments worldwide, or future functionalities like sharing accounts with a simple click, N26 continues to solve the banking challenges faced by digital consumers around the world.