Mobile Bank N26 has raised a further 170 million US dollars in fresh capital in an extension to the Series D financing round from the beginning of the year. Following the largest financing round to date of a European Fintech company with raised 300 million US dollars in January 2019, the total volume of the financing round has now risen to 470 million US dollars. Raue also advised Earlybird Venture Capital on its further investment in the current financing round.
In total, the company has raised over USD 670 million in capital from renowned investors such as Earlybird, Allianz, Horizons Ventures, Valar Ventures and others. All investors from the January financing round participated again. The bank intends to use the capital from the current financing round for expansion in Europe, the USA and Brazil as well as for the expansion of the team and for product innovations.
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 3.5 million customers in 24 countries with 16 million transactions per month and a monthly transaction volume of more than 2 billion euros. N26 is valued at 3.5 billion US dollars, making it currently the most expensive German start-up.
(30 July 2019)