N26 receives investment of $170m in series-D extension

Existing investors Tencent Holding and Allianz X invested in the funding round extension, according to reports. N26 has now raised a total of $470m in its series-D, with the latest round giving the company a valuation of $3.5bn.

The fresh capital will be used to launch N26 in Brazil, release its new banking product, Shared Spaces, and increase headcount in Berlin, New York, Barcelona, Vienna and São Paulo.

Previous funding
N26 received a €25,000 seed investment in May 2013. Earlybird led the first institutional funding round in June 2014, investing $2m alongside Redalpine.

Both Earlybird and Redalpine returned alongside Valar and Armada Investments in April 2015 to provide N26 with a €10m series-A.

Battery Ventures and Horizons joined at the series-C round, investing alongside all previous investors in a $40m financing in June 2016.

The corporate venturing division of Allianz Group and Chinese technology investor Tencent led a $160m series-C for the bank last year.

The company announced a $300m investment led by Insight Venture Partners in January 2019. The investment valued the firm at $2.7bn and included participation from Singapore's sovereign wealth fund, GIC, and other existing investors.

Company
N26 was founded by Valentin Stalf and Maximilian Tayenthal in 2013, and its product was launched in 2015. It offers retail banking services via a digital platform, operating on a lower cost base than traditional banks due to the lack of physical infrastructure. Based in Berlin, the company received a full banking licence from the European Central Bank in 2016. It has 2.5 million customers in 25 countries around the world and employs 1,300 people.

People
N26 – Valentin Stalf (CEO).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Expansion
• DACH
• Financials
• Venture
• Germany