N26 announces another funding round to drive global expansion

The mobile bank N26 announces $300 million Series D Funding

N26 announces another funding round to drive global expansion. Source: n26.com

European mobile-only bank N26 has announced a $300 million Series D funding round led by New York-based Insight Venture Partners, valuing N26 at $2.7 billion. The round also includes participation from GIC, Singapore’s sovereign wealth fund, and several existing investors.

The $300 million funding represents the largest private equity financing round for a fintech company in Europe in recent years.

To date, N26 has raised more than $500 million from the world’s most established investors including Tencent, Allianz X, Peter Thiel’s Valar Ventures, Li Ka-Shing’s Horizons Ventures, Earlybird Venture Capital, Redalpine Ventures and Greyhound Capital.

Currently operating in 24 markets across Europe, N26 has more than tripled its customer base in the last 12 months to more than 2.3 million customers. N26 will use the proceeds to drive global expansion, starting with the US launch of its mobile banking product in the first half of 2019. The company aims to reach over 100 million customers worldwide in the coming years.

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