About N26
N26 is a financial services company that offers mobile banking solutions.
Headquarters
N26, Berlin
Founded
2013-01-01
Industry
Banking, Finance, Financial Services, FinTech, InsurTech
Last Funding Type
Series E
Valuation
9
Total Funding
$1.72 billion dollars
IPO Status
Private
Financial
N26 experienced significant regulatory challenges that impacted its growth, including a â¬9.2 million fine over anti-money laundering lapses. However, the German financial regulator lifted a three-year-old cap on N26's customer growth, which had previously restricted the company's ability to onboard new customers. This regulatory change is expected to positively influence N26's growth trajectory. Additionally, N26 anticipates achieving monthly profitability in the second half of 2024 as a result of the lifted customer onboarding restriction.
Germany's Federal Financial Supervisory Authority (BaFin) has lifted growth restrictions on N26, allowing the digital bank to expand its customer base. This follows a â¬9.2 million fine imposed on N26 for anti-money laundering failures. The bank has committed to improving its financial crime controls and anticipates monthly profitability in the second half of 2024.
Germany's Federal Financial Supervisory Authority (BaFin) has lifted growth restrictions on N26, allowing the digital bank to expand its customer base. This follows a â¬9.2 million fine imposed on N26 for anti-money laundering failures. The bank has committed to improving its financial crime controls and anticipates monthly profitability in the second half of 2024.
Funding Rounds
12
Number of Lead Investors
9
Total Funding Amount
$1.72 billion dollars
Number of Investors
26