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Thursday, February 20, 2020

News > Fintech

N26 secures $300m in latest funding round

Theo Osborn | 14:34 Thursday 10th January 2019

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.”

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