Raue LLP has advised Earlybird, a venture capital fund, on the largest financing round to date for a European Fintech company. Mobile Bank N26 raised USD300 million through a Series D financing round led by Insight Venture Partners and is now valued at USD 2.7 billion.
In total, the company has raised over USD500 million in capital from renowned investors such as Earlybird, Allianz, Horizons Ventures, Valar Ventures and others. The bank intends to use the fresh capital for global expansion and the launch of its app in the USA.
N26 was founded in 2013 by Valentin Stalf and Maximilian Tayenthal, In 2015, the Mobile Bank launched in Germany and Austria. The bank currently has more than 2.3 million customers in 24 countries who hold over 1 billion euros in their bank accounts and conduct their banking transactions via smartphones. More than 700 employees work in offices in Berlin, Barcelona and New York.
(11 January 2019)