N26 has reached the twin milestones of more than €1bn in monthly transaction volumes and over one million customers.
The German-based mobile bank has doubled its customer base over the last nine months and revealed that more than 2,500 new users were joining every day.
As a result, N26 expects to reach over five million customers by 2020 and is looking to support this with expansion into the UK and US later this year.
It believes that the primary motivation for people to use its mobile bank was to experience banking in a hassle-free manner, while also saving a lot of time and money.
“We have built the first mobile bank customers love to use,” said Valentin Stalf, founder and CEO of N26 (pictured above).
“With N26, customers save time as well as millions of euros in hidden fees every year.”
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