26th June 2020 N26 extends Series D to $470 million. 12th July 2020 Germany-based challenger bank N26 announced on Wednesday it secured $300 million through its Series D funding round, which was led by venture … The Berlin-based startup has extended its Series D round with another $100 million of funding at the same valuation of $3.5 billion. Stalf says N26’s subscriptions are “quite stable”, with churn rates no higher than usual.“We just want to be very well-prepared and that’s why we decided to raise more capital now,” says Stalf, who reveals talks for the $100 million raise started before the pandemic broke out.N26 will use the fresh capital to focus on its operations in Europe, the US, and Brazil, which Stalf says are “more attractive markets” than the UK, where Having already gained a quarter of a million customers in the US, the German challenger is yet to launch in Brazil as it waits to hear back on its fintech licence, which Stalf says it hopes to obtain “within six months, maybe earlier”.Alternatively, post a comment by completing the form below:AMTD Group, a major Asian investment bank, has landed three partnerships which hint to the shape of its Singapore-b… . 1. 30th July 2020 30th July 2020
Today, the firm has more than 5 million customers in 25 markets. Digital-only bank platform N26 announced on Monday it secured more than $100 million through its extended Series D funding round, bringing its … 30th June 2020
your password.This field is for validation purposes and should be left unchanged.This field is for validation purposes and should be left unchanged.We do not store your information and we do not disclose our sources. After extending its Series D round by $170 million in July 2019, N26 is announcing another extension that will add $100 million to its pot. 30th July 2020
It employs more than 1.500 employees across five office locations: Berlin, New York, Barcelona, Vienna, and São Paulo.N26 says that the funds will be used to accelerate N26’s product development and strengthen its footprint in its core markets, where the demand for mobile banking is higher than ever before.The extension shows a strong commitment of N26’s investor base to its long-term vision of building a bank the world loves to use, the mobile banknotes.With changes in consumer spending, banking habits, and attitudes towards saving in light of the COVID19 crisis, the company expects a long-term shift in digital banking adoption overall.What Trading Companies Really Need to Increase Their Revenues“With banking from home now more important than ever, we want to make sure that everyone can open a bank account in minutes to explore the freedom and safety of mobile banking,” says Valentin Stalf, Co-Founder and CEO of N26.“In these turbulent times, digital banking is no longer a thing of the future, but a part of everyday reality,” James Fitzgerald at New York-based venture capital fund, Valar Ventures, adds.Maximilian Tayenthal, Co-Founder of the firm, says that N26 has already seen many people embrace banking from home, move away from cash, and towards contactless payments and e-commerce over the past few months.“We’ve even seen unprecedented growth in online spending amongst customers above the age of 65 – an important sign that digital banking is becoming increasingly relevant for everyone,” he concludes.N26 will continue to invest in growing its presence across its 24 European markets and the US in the near future. 31st July 2020 11th June 2020 Click here for more information on our 29th June 2020
The firm is currently in the process of applying for a local FinTech license in Brazil.With a full European banking license, N26 is available on Android, iOS, and desktop. Copyright © 2020 Informa PLC.
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