Hard to imagine, that back when we first invested in the Seed round of N26 (Redalpine Capital II) not everyone was on board with the idea of fully digital banking. Today the challenger bank has proved once again that digital banking is here to stay. We’re thrilled to announce that N26 raised an impressive $900 million Series E at a $9 billion valuation, making it Germany’s most valuable FinTech and putting it among the top 20 worldwide.
This is the largest funding round for a digital bank in Europe up to date and was led by renowned New York-based tech investors Third Point Ventures and Coatue Management, and joined by Dragoneer Investment Group, as well as existing investors. We all support the vision of building a truly global digital bank.
The Berlin-based fintech operates a digital bank with more than 7 million clients across 25 countries. They set out to reimagine banking in 2013 and make it more transparent, fair, and innovative. N26 created a fully digital bank available on your smartphone to bank simply, conveniently, and securely without ever having to go to a physical branch.
With the new funding, N26 plans to capture an even bigger share of the European market, broaden the offering for customers and grow the team, with a focus on product, tech and digital security. As a leader in the industry, they have taken on a lot of responsibility and want to continue changing banking for the better.
For more information, please visit N26’s website and read these articles: TechCrunch, CNBC.