N26 has secured $300m in its Series D funding round, which was led by Insight Venture Partners, with participation from GIC and several existing investors.
The funding takes N26’s valuation to $2.7bn, with the mobile bank raising more than $500m to date.
The global bank will use the funding to drive its expansion, starting with the US launch of its mobile banking product in the first half of 2019.
Valentin Stalf, co-founder and CEO at N26 (pictured above), said: “Around the world, millions of people still suffer from bad banking experiences and high fees.
“With Insight Venture Partners and GIC joining our renowned group of existing investors, N26 has the support of the best investors globally to disrupt one of the largest industries in the world.”
Harley Miller, principal at Insight Venture Partners, added: “It’s increasingly rare these days to come across such a massive industry which hasn’t experienced disruption by technology.
“N26 is the clear market leader in the European mobile banking industry; the company is ideally positioned to expand to the US market this year and build a formidable global digital consumer brand.”
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
Redwood Bank launches new business savings bond
Redwood Bank has launched a new one year business savings bond with a rate of 1.62%...
OakNorth Bank completes seven-figure debt finance deal
OakNorth Bank has provided independent advisory firm Dow Schofield Watts with a seven-figure debt finance facility to make a strategic investment in Camlee Group...
Starling Bank raises £60m and gives shares to employees
Starling Bank has revealed that it has raised £60m from its existing investors Merian Global Investors and JTC...
Cash costs time for SMEs — how can banks help?
Cash is still king for businesses up and down the country; businesses that must essentially be flexible to consumer preferences...
SB to host filmed roundtable on how specialist banks aim to utilise technology in 2020 and beyond
Next week, Specialist Banking will host its sixth filmed roundtable event in association with Watson Farley & Williams...
Aldermore names Tim Boag as group managing director
Aldermore has named Tim Boag (pictured above) as its new group managing director of business finance...
Aldermore’s outlook for SMEs in 2020
As we enter 2020, it’s worth reflecting on how the economic landscape in which UK small businesses currently operate in is changing...
Cynergy Bank opens first Scottish office
Cynergy Bank has opened its first Scottish office in Edinburgh...
Shawbrook Bank launches new business savings products
Shawbrook Bank has launched two new business savings products and enhanced a third to strengthen its portfolio...
Shawbrook names first head of fintech strategy and commercialisation
Shawbrook Bank has named Stuart Doignie (pictured above) as its first head of fintech strategy and commercialisation...
FCA requests further information about overdraft pricing
The FCA has asked major banks to provide evidence of how they arrive at pricing decisions for overdrafts...