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N26 (bank)

N26 (bank)

N26 is a is a mobile banking company headquartered in Berlin, Germany.

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.

Timeline

August 26, 2020
N26 Celebrates One Year Anniversary, In US, with Nearly 500,000 Customers

February 11, 2020
Neo-Bank N26 is leaving the UK and is blaming Brexit
July 18, 2019
N26 closes $170m Series D
July 11, 2019
N26 launches its challenger bank in the US

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.

July 2019
N26 raises a $170,000,000 series D round from Allianz X, Earlybird Venture Capital, Government of Singapore Investment, Greyhound Capital, Insight Partners, Tencent and Valar Ventures.
January 2019
N26 raises a $300,000,000 series D round from GIC Private Limited, Government of Singapore Investment and Insight Partners.
March 2018
N26 raises a $160,000,000 series C round from Allianz X and Tencent.

Funding rounds

Patents

Further reading

Title
Author
Link
Type
Date

About N26

Web

Fintech Company N26 Looks To Digitize And Disrupt As Pandemic Encourages Online Banking

Johnny Liu

Web

August 3, 2020

Documentaries, videos and podcasts

Title
Date
Link

News

Title
Author
Date
Publisher
Description
Ryan Weeks
July 6, 2021
The Block
N26, the Berlin-based neobank valued at $3.5 billion, is planning to launch crypto trading tools as part of a new marketplace initiative.
JD Alois
May 14, 2021
Crowdfund Insider
Click HERE to find out ⭐ German Digital Bank N26 Scrutinized for Lax AML Compliance, BaFin Appoints Special Monitor. | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more.
Michael Tattersall
April 16, 2021
Business Insider
N26 adds phone insurance for German customers, and the offering should attract new users to the neobank's subscription accounts.
Romain Dillet
April 15, 2021
TechCrunch
Fintech startup N26 is launching N26 Insurance as it plans to offer insurance products that you can access from the company's mobile app and website. The first insurance product is a smartphone insurance plan for German customers. But the startup doesn't plan to stop there. N26 says it is also working on private liability insurance, [...]
Romain Dillet
April 15, 2021
TechCrunch
Fintech startup N26 is launching N26 Insurance as it plans to offer insurance products that you can access from the company's mobile app and website. The first insurance product is a smartphone insurance plan for German customers. But the startup doesn't plan to stop there. N26 says it is also working on private liability insurance, [...]
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References

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