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 customersCurrent account
Core product for bussiness customersBusiness Account Starter Plan, Business Smart, Business You, Business Metal
PricingPersonal 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 SupportedAny currency
 
Product costN26 Standard (Personal/Business account) - €0.00/mo
Openning a current account (business and personal)Free
Money transfers/paymentsFree for all Plans
ATM withdrawalsN26 Standard (Personal/Business account): up to 3 free withdrawals in the Eurozone
OtherCard provider: Mastercard
(a) a personal accountYes
(b) a business accountYes

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 offeringPersonal/Business Current Account
Banking licenseFull European banking license
Type of customersIndividuals, businesses
Estimated revenue$50M to $100M
Number of investors 16
Number of lead investors6
Names of lead investorsAllianz X, Valar Ventures, Earlybird Venture Capital, Horizons Ventures, Insight Partners, Tencent Holdings

Tech stack

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Reviews