N26 is a mobile challenger (neo-bank) bank headquartered in Berlin, Germany. It was founded in 2013 by Valentin Stalf and Maximilian Tayenthal. N26 initially served UK & other European customers with a fully endorsed banking license, however, in 2019 N26 formed a partnership with Axos Bank, becoming a white-label partner in the United States.
N26 is a fully online banking experience, providing its consumers with a mobile application for smartphones, available for Apple and Android users on their respective app platforms. The debit card provided by N26 is part of the Visa system and comes with several features for its users, such as real-time purchase notifications, no-fee policy for international or domestic purchases, customizable limits, and more.
Shortly after N26's entrance to the US, the Berlin-based company announced they would have to discontinue providing banking services in the UK on April 15, 2020, due to Brexit and new licensing requirements. N26 had initially made it's UK debut in 2018, just six months before the announcement of Brexit plans.
Despite the uncertainty surrounding N26's exit from the UK post-Brexit, and uprising COVID-19 threats to neo-banks and the grander financial industry, N26 closed with $100M in Series D funding from recurrent investors, Tencent and Valar Ventures, on May 5, 2020.
The company is launching a bank account with a debit card. Customers in the U.S. can download a mobile app and create a bank account from their phone.
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