N26 raises $160 million

Latest News

N26 raises $160 million

By Mark Evans

20/03/2018

Mobile bank N26 has raised $160 million in a funding round co-led by Allianz X, the digital investment unit of Allianz Group, and Chinese giant Tencent Holdings. The funding represents the largest German equity financing round (non IPO) in the fintech industry and will be used to accelerate N26’s global growth strategy and international expansion, particularly into the US and UK later this year.

It also will support product development for existing markets as N26 wants to use artificial intelligence in increase customer service.

Since launching in 2015 N26 has acquired 850.000 customers, and has a goal to reach more than 5 million by the end of 2020. N26 has processed over 9 billion euros in transaction volume to date, with a projected volume of more than 13 billion euros in 2018.

The future-ready CFO: Driving strategic growth and innovation

This National Technology News webinar sponsored by Sage will explore how CFOs can leverage their unique blend of financial acumen, technological savvy, and strategic mindset to foster cross-functional collaboration and shape overall company direction. Attendees will gain insights into breaking down operational silos, aligning goals across departments like IT, operations, HR, and marketing, and utilising technology to enable real-time data sharing and visibility.

The corporate roadmap to payment excellence: Keeping pace with emerging trends to maximise growth opportunities

In today's rapidly evolving finance and accounting landscape, one of the biggest challenges organisations face is attracting and retaining top talent. As automation and AI revolutionise the profession, finance teams require new skillsets centred on analysis, collaboration, and strategic thinking to drive sustainable competitive advantage.