MoneyLIVE Payments Europe
- 08 Aug, 2024
N26
Description
N26 was founded in 2013 by Valentin Stalf and Maximilian Tayenthal with the vision to transform the way we manage money, and allow us to bank the way we live. Today, N26 has reimagined banking for the smartphone, and continues to make banking simple, accessible and transparent for all. With a full European banking license, state-of-the-art technology and no branch network, this is banking redesigned for the 21st century.
Overview
| Type: | Private |
| Funding Status: | Series D |
| Foundation year: | 2013 |
| Location: | Berlin, Germany |
| Number of employees: | 1001-5000 |
| Founders: | Maximilian Tayenthal, Valentin Stalf |
| Website: | https://n26.com/ |
Target geographic market:
Europe, the U.S.
Awards:
World Finance Digital Banking Awards 2019: Best Mobile Apps (in Germany) and Best Consumer Digital Banks (in Germany); World Finance Digital Banking Awards 2018: Best Digital Bank in Germany
About Product/Service
| Products | Current accounts, Savings accounts, Time deposit accounts, Debit cards, Credit cards, Consumer loans (2.99 - 7.80 %), Car loans (2.99 - 7.80 %) |
|---|---|
| Core product offerings for individual/retail customers | Current account |
| Core product for bussiness customers | Business Account Starter Plan, Business Smart, Business You, Business Metal |
| Pricing | Personal account: N26 Standard (The free online bank account) - €0.00/month; N26 Smart (The bank account that gives you more control) - €4.90/month; N26 You (The debit card for everyday and travel) - €9.90/month; N26 Metal (The premium account with a metal card) - €16.90/month / Business account: Business (The free online business bank account) - €0.00/month; Business Smart (The intelligent business bank account) - €4.90/month; Business You (The business bank account with insurance) - €9.90/month; Business Metal (The business bank account with cashback) - €16.90/month |
| The Base Currency | € (Euro) |
| Number of Currencies Supported | Any currency |
| Product cost | N26 Standard (Personal/Business account) - €0.00/mo |
|---|---|
| Openning a current account (business and personal) | Free |
| Money transfers/payments | Free for all Plans |
| ATM withdrawals | N26 Standard (Personal/Business account): up to 3 free withdrawals in the Eurozone |
| Other | Card provider: Mastercard |
| (a) a personal account | Yes |
| (b) a business account | Yes |
Key people
Funding rounds
| Last Funding Date | May 5, 2020 |
|---|---|
| Last Funding Amount | $100M |
| Last Funding Type | Series D |
| Total Funding Amount | $782.8M |
| Number of Funding Rounds | 8 |
Financials
| Customer/Products segments | Individual/ Retail Current Accounts, Business Current Account, Credit Mastercard, Remittance/International Transfers, Lending, Savings, Insurance |
|---|---|
| Key product offering | Personal/Business Current Account |
| Banking license | Full European banking license |
| Type of customers | Individuals, businesses |
| Estimated revenue | $50M to $100M |
| Number of investors | 16 |
| Number of lead investors | 6 |
| Names of lead investors | Allianz X, Valar Ventures, Earlybird Venture Capital, Horizons Ventures, Insight Partners, Tencent Holdings |
Tech stack
Competitors
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x BankMobile BankMobile is a mobile application that offers a... | 2015 | Private | fintech, challenger banks |
x Fenergo Fenergo is the digital enabler of client and... | 2009 | Private | Fenergo |
x Thinkmoney Think Money is one of the largest and longest-... | 2002 | Private | Challenger banks, fintech |
x Timo Timo provides banking services in Vietnam | 2015 | Challenger banks, fintech | |
x Simple Simple is online banking with superhuman customer... | 2009 | Private | fintech, challenger banks |
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