N26 nabs more $$$$

Extends funding round to almost half a billion dollars

via The Financial Times, here [paywall]

- updated at July 30, 2019, 10:43 a.m.

N26 & investors double down

Posted by Relte on July 19, 2019 |

Some interesting highlights from Jamie Powell & Laura Noonan at the FT, commenting on N26's $470m in Series D funding to drive growth in in Europe, US, and Brazil.

(N26 Sereies D funding)

Other highlights from the press release;

  • Firm now valued at $3.5bn,
  • Additional funds will be used to drive international expansion, grow the team and drive product innovation with many more features launching later this year
  • All previous investors from the Series D funding round in January 2019 extended their investment in the company. Participants; Venture Partners, GIC (Singapore’s sovereign wealth fund), Tencent, Allianz X, Peter Thiel’s Valar Ventures, Earlybird Venture Capital, and Greyhound Capital.
  • To date, N26 has raised more than $670 million.
  • Within the last 12 months, N26 has tripled its workforce to more than 1,300...continue hiring for its locations in Berlin, New York, Barcelona, Vienna and São Paulo.
  • The Mobile Bank serves more than 3.5 million customers in 24 European markets,
  • Last week, the Mobile Bank launched its mobile banking app in the US, its first market outside of Europe. The company plans to launch next in Brazil and aims to reach over 50 million customers worldwide in the coming years.