N26 ist wertvollstes deutsches Start-up
Author: Thomas Wandler
With a further investment of 170 million dollars, the online bank N26 has risen into the most valuable German start-up. The financing round was increased from 300 to 470 million dollars. “N26’s company valuation thus rises to 3.5 billion dollars and makes it the most highly valued German start-up,” informed N26.
The new investment will flow into international expansion, the expansion of the team and product innovations. Initially, a project is planned in the USA, where the online bank has just entered the market. The company then plans to expand to Brazil.
“Our hypothesis is that whatever has worked in Europe will also work in the US and Brazil,” comments co-founder and CFO Maximilian Tayenthal. One or two new markets will be explored each year. In the USA, there are already around 100,000 interested customers on a waiting list.
N26 was launched in 2015 and has currently over 3.5 million customers in 24 European markets. In the coming years, the online bank expects to grow to 50 million customers. In the meantime, investors have spent over 670 million dollars on the company. Tayenthal expects further financing rounds.