• FOUNDING YEAR: 2013
    LOCATION:
    Germany
    REGION:
    Last Update:
    8 Nov, 2019

Description

FOCUS

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) - CASH26 - N26 Invest - Fingerprint login with TouchID
REVENUE MODEL:
Viewable by subscribers only
EXISTING PARTNERSHIPS:
MasterCard, TransferWise, Wirecard (2016)
PRIMARY PROBLEM SOLVED:
Aims to simplify banking experience.
COMMENT
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.

PEOPLE

FOUNDERS:
Valentin Stalf, Maximilian Tayenthal, Josef Vataman
NUMBER OF EMPLOYEES:
201-500
INVESTORS:
Tencent, Allianz X, Investitionsbank Berlin, Battery Ventures, Horizons Ventures, Redalpine, Earlybird Venture Capital, Valar Ventures, Axel Springer Plug and Play Accelerator, ARMADA Investment, Daniel S Aegerter
KEY EMPLOYEES:
Valentine Stalf (CEO)

TRACTION

ACTIVE USERS:
0.22 Million in 2017
COMMENT:
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).

MOMENTUM

FUNDED:
YES
TOTAL FUNDING:
$215.2 Millions
DATE OF LAST FUNDING:
Mar 2018
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).
SEED & PRIOR FUNDING:
$4.13 Millions
SEED CLOSED ON:
Jun 2014
FUNDING SERIES:
SERIES A
$11.07 Millions Closed: Apr 2015
SERIES B
$40 Millions Closed: Jun 2016
SERIES C
$160 Million Closed: Mar 2018
LISTED:
NO

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