Number26

neobanks / digital bankslicensed digital banks

FOUNDING YEAR: 2013
LOCATION: Germany
Last Update: 01/05/2020

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About

Alku ,

MEDICI Analysis

Number26 was rebranded as N26 in May 2016, it has built the mobile only banking application in Europe. It aims to revolutionize the traditional banking industry and how people spend.

Focus

PRODUCTS & SERVICES

Banking App

REVENUE MODEL

The company revenue model is based on monthly fees on premium accounts and charges fee on cash deposits at retail stores with 1.5% fee on deposits after the first €100 / month. In addition, it receives a commission from MasterCard each time a N26 customer pays somewhere with the card.

MAIN CLIENTS

Consumers

EXISTING PARTNERSHIPS

Partnered with Wire Card Bank to manage customers accounts

Traction

VALUATION / MARKET CAP:

$266.2 M in 2016

People

FOUNDERS

Maximilian Tayenthal

Valentin Stalf

BOARD MEMBERS AND ADVISORS

Stefan Klestil

Andrew McCormack

Peter Niederhauser

Fabian Friede

Simon Sebastian Schmincke

James Fitzgerald

NUMBER OF EMPLOYEES

11-50

INVESTORS:

Axel Springer Plug and Play Accelerator

Battery Ventures

Daniel S. Aegerter

David Schneider

Earlybird

Earlybird Venture Capital

Horizons Ventures

p50 ventures

Redalpine Venture Partners

Robert Gentz

Rubin Ritter

Valar Ventures

KEY EMPLOYEES:

Valentin Stalf (CEO); Christian Rebernik (CTO); Kelly Ford (CMO)

Momentum

FUNDED

YES

NUMBER OF FUNDING ROUNDS

3

TOTAL FUNDING

$52.7 M

DATE OF LAST FUNDING

Jun 2016

SEED & PRIOR FUNDING

$2.7 M

SEED CLOSED ON

Jun 2014

FUNDING SERIES

SERIES A  · $10 M  · Apr 2015

SERIES B  · $40 M  · Jun 2016

LISTED

NO

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