N26 raises $900m at $9bn valuation

N26 has raised more than $900 million in a Series E funding round that values the German digital bank at over $9 billion.

Three-Point Ventures and Management Coatue are leading the rotation, including Dragoneer Investment Group and existing N26 clients.

Launched in Germany and Australia in January 2015, the N26 launches as a current investment with Mastercard. It has more than seven million customers in 25 countries and aims to generate more than $ 90 million by 2021.

The new financial position offers N26 a market share similar to that of the second German trading business Commerzbank.

Valentin Stalf, CEO, N26, said: “This recent investment underscores the fact that the consumer bank as we know it has changed. With our new headquarters, we are in a position to change. It is good to be one of the largest banks in Europe, all without a single branch.”

The grants will be used to build its mobile phone equipment and hire 1000 new employees in areas such as manufacturing, technology, and network.

And again, N26 says it will significantly increase its water supply providers by increasing Business Management Staff staff to 100% of employees.

The company had been embroiled in controversy with its employees, and last year they formed a ‘Council’ between expressions of trust and confidence in the number of bank managers who were “always on the ground”.

Maximilian Tayenthal, co-CEO now says: “It is very important for us to be able to share the success of the N26 with our staff. Without them, we would not be the company we are here for.”

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