Number26
neobanks / digital banks . licensed 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
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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