Third Point, Coatue lead USD 900m round for N26

Another investor participating in the round is Dragoneer Investment Group.

N26 was valued at USD 3.5bn in its Series D round, which saw the company raise three tranches totalling USD 570m between January 2019 and May 2020.

CEO Valentin Stalf told Techcrunch that the company expects to be able to line up an IPO within the next three years.

N26 plans to use proceeds from the round to develop its mobile banking platform, as well as to increase its team by a further 1,000 staff.

Previous funding
N26 received a seed investment of EUR 25,000 in May 2013.

Earlybird led the first institutional funding round in June 2014, investing USD 2m in the company alongside Redalpine. Earlybird invested in the company via its Digital West strategy, which focuses on early-stage digital technology opportunities in DACH, the Nordic region, the UK, Benelux, France and southern Europe.

Earlybird, Redalpine, Valar Ventures and Armada Investments backed a EUR 10m Series A round for N26 in April 2015.

Battery Ventures and Horizons Ventures led a USD 60m round for N26 in June 2016, joined by the company's existing investors.

Allianz Capital Partners and Tencent led a USD 160m Series C round for N26 in March 2018.

In January 2019, Insight Venture Partners led a USD 300m Series D funding round for N26, joined by GIC and existing investors. The round valued the firm at USD 2.7bn, according to Unquote Data.

In July 2019, existing investors Tencent and Allianz led a USD 170m funding round extension, valuing N26 at EUR 3.5bn.

N26's existing investors participated in an extension of more than USD 100m in May 2020, bringing the company's total Series D funding to USD 570m.

Company
Founded in 2013 and headquartered in Berlin, N26 is an online bank that allows users to manage their account via a mobile app. The firm also offers physical bank cards, as well as a savings and budgeting account for N26 Smart. The company was granted a banking license in 2016 and operates in 25 markets with more than seven million customers, according to its website.

People
N26 – Valentin Stalf, Maximilian Tayenthal (co-founders, co-CEOs).
Third Point Ventures – Heath Terry (partner).
Valar Ventures – James Fitzgerald (partner).
Insight Venture Partners – Harley Miller (principal).

Advisers
Company – Goldman Sachs (corporate finance).

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• Topics
• Expansion
• DACH
• Financials
• Venture
• Germany
• Insight Venture Partners
• Earlybird
• Battery Ventures
• Allianz Capital Partners