N26 has extended its Series D financing round for the second time. The Mobile Bank from Berlin was able to raise over 100 million US dollars in fresh capital. Raue advised again funds advised by Earlybird Venture Capital who already hold a substantial stake in N26 and have invested again in this extension of the Series D financing round.
Following the first closing for USD 300 million in January 2019 and a further closing for USD 170 million in July 2019, the further extension brings the volume of the Series D financing round to a total of USD 570 million. All of N26’s major investors have participated in the expansion, including Earlybird, Insight Venture Partners, Singapore’s sovereign wealth fund GIC and Valar Ventures. Since its foundation, N26 has thus received a total of around 800 million dollars from international investors.
The Bank intends to use the capital from the current financing round to speed up the development of new products and to accelerate growth in the core markets of Europe and the USA. The Bank also intends to press ahead with its market entry in Brazil.
Raue has comprehensively advised Earlybird on its investment in the extension of the Series-D financing round.
N26 was founded in 2013 by Valentin Stalf and Maximilian Tayenthal. In 2015, the Mobile Bank entered the German and Austrian markets. The bank currently has more than 5 million customers in 25 countries with over 1.500 employees worldwide.
(19 May 2020)