Investors participate in N26 $100m series-D extension

The series-D has now been extended to a sum of $570m, with more than $100m being invested in this phase. The company has a valuation of $3.5bn, according to a statement.

New York-based Valar Ventures is expected to have participated.

In the coming months, N26 will continue to invest in growing its presence across 24 European markets and the US. The online bank is also in the process of applying for a local financial technology licence in Brazil.

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 Holding 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.

In July 2019, existing investors Tencent and Allianz X invested in a $170m funding round extension. The round gave the company a valuation of $3.5bn.

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 (co-founder, CEO).

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