N26 (fka Number26) is a product of Papayer GmbH. It is a licensed German mobile-only bank. It offers mobile banking services to consumers. The company offers opening of a free checking account along with a MasterCard, and a smartphone application that enables users to manage their finances in real-time.
PRODUCTS & SERVICES:
N26 is a licensed German mobile-only bank. N26 raised over $53 million from investors including Horizons Ventures, Early Bird Venture Capital, Battery Ventures and Valar Ventures. Aside from existing banking services, in February 2017, N26 introduced consumer credit service. N26 claims the account can be open in 8 minutes and features:
- MoneyBeam (money transfer service via SMS or email)
- International money transfers (powered by TransferWise)
- Control over personal account on the mobile device in real time
- Protection by the German deposit insurance
- PULSE26 (PFM)
- Overdraft (available only in Germany)
- N26 Invest
- Fingerprint login with TouchID
N26 lets users transfer money using TransferWise in the mobile app. There’s an investment feature for German customers and the company recently announced a premium Black card with a few insurance features.
The company claims that it has customers in 17 European countries with access to an instant overdraft, international transfers into 19 currencies and also provided real-time consumer credits up to EUR25,000. Currently, it the company has signed up upto 5,000 customers per day, with the number of users recently surpassing the one million(March 2018).
DATE OF LAST FUNDING:
TOTAL FUNDING COMMENT:
The company is planning use the fund for expanding its geographic in United States and also investors in the round, set to be confirmed in the coming week(March 2018).