- N26, a German fintech startup backed by enterprise capitalist Peter Thiel, raised $300 million in a sequence D funding spherical.
- The most recent financing values the corporate at $2.7 billion.
- The financing comes simply 10 months after N26’s final funding spherical and can be used to facilitate the corporate’s growth into the US market.
N26, a German digital banking firm backed by enterprise capitalist Peter Thiel, is now essentially the most priceless fintech in Europe.
The corporate on Thursday mentioned it had raised $300 million in a sequence D funding spherical that values it $2.7 billion. That is greater than purple scorching $1.7 billion UK-based fintech Revolut.
Enterprise agency Perception Enterprise Associate is main the newest funding spherical alongside Singapore’s sovereign wealth fund GIC.
The financing comes simply 10 months after N26’s final funding spherical, by which the corporate raised $160 million from Tencent and Allianz.
Nicolas Kopp, the US chief govt officer of N26, mentioned the fundraising is to facilitate the corporate’s world growth, together with into the US.
Learn extra: A Peter Thiel-backed fintech that goals to be ‘a mix of Venmo, Zelle, Mint and Chase’ is launching subsequent 12 months within the US
Enterprise Insider beforehand reported that N26 is constructing a banking product for US clients within the first half of 2019 and is partnering with an unnamed American financial institution for its providing. The corporate is aiming to launch a banking app that provides an aggregation of providers offered by standard monetary apps, like Venmo, Zelle, Mint, and a checking account.
N26 can be seeking to launch in different markets after the US, Kopp mentioned. The corporate has a long-term aim of turning into a world financial institution and goals to serve 100 million customers over the approaching years, he mentioned.
Launched in January 2015, N26 presently operates in 24 European markets and has tripled its lively customers to 2.three million over final 12 months. The corporate has over 700 staff and has opened a New York workplace that homes 25 to 30 staff, Kopp mentioned.
N26 is simply the newest fintech to boost funding at a hefty valuation. Fintech Plaid simply raised funding at a $2.65 valuation.
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