Total amount raised
$1.7 Billion
Latest funding date
10/1/2021
Location
N26 has successfully raised significant funding through multiple rounds, with the latest being a Series E round that closed on October 18, 2021. The company is backed by 26 investors, including HMC Capital and Third Point Ventures.
Keep reading to explore the intricacies of N26's fundraising journey and the investors backing this innovative platform.
What Is N26?
N26, founded in 2013 by Maximilian Tayenthal and Valentin Stalf, is a digital bank headquartered in Berlin, Germany. The company operates in the banking, finance, and fintech industries, offering a range of mobile banking solutions.
With an employee count ranging between 1001 and 5000, N26 provides services such as international money transfers, investments, and cash withdrawals. The bank is known for its user-friendly app, which allows customers to manage their finances seamlessly.
How Much Funding Has N26 Raised?
- Seed Round
- Amount Raised: $2M
- Date: June 2014
- Lead Investors: Earlybird Venture Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of N26's mobile banking platform.
- Series A
- Amount Raised: €10M
- Date: April 2015
- Lead Investors: Valar Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series B
- Amount Raised: $40M
- Date: June 2016
- Lead Investors: Hedosophia, Horizons Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new European markets.
- Series C
- Amount Raised: $160M
- Date: March 2018
- Lead Investors: Allianz X, Tencent
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and support international expansion.
- Series D
- Amount Raised: $300M
- Date: January 2019
- Lead Investors: Insight Partners
- Valuation at Round: $2.7B
- Motivation Behind the Round: To support growth and expansion.
- Series D Extension
- Amount Raised: $170M
- Date: July 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: $3.5B
- Motivation Behind the Round: To bolster financial position and support expansion plans.
- Series D Extension
- Amount Raised: $100M
- Date: May 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: $3.5B
- Motivation Behind the Round: To secure a financial buffer during the economic downturn and focus on promising markets.
- Series D
- Amount Raised: €30M
- Date: February 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue product development and market expansion.
- Series E
- Amount Raised: €775M
- Date: October 2021
- Lead Investors: Coatue, Third Point Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To achieve monthly profitability and address regulatory challenges.
Total Amount Raised: $1.577B
Current Valuation: $3.5B
Key Investors
- Coatue
- Details: Coatue is a global technology-focused investment firm. It manages both public and private equity funds.
- Investment Focus Areas: Technology, media, telecommunications, consumer sectors.
- Notable Investments: Snap Inc., DoorDash, Bytedance.
- Third Point Ventures
- Details: Third Point Ventures is the venture capital arm of Third Point LLC, focusing on technology investments. It is known for its strategic investments in high-growth companies.
- Investment Focus Areas: Technology, healthcare, industrial sectors.
- Notable Investments: SentinelOne, Upstart, Zymergen.
- Insight Partners
- Details: Insight Partners is a global private equity and venture capital firm. It invests in growth-stage technology and software companies.
- Investment Focus Areas: Growth-stage technology, software companies.
- Notable Investments: Shopify, Twitter, Wix.
- Allianz X
- Details: Allianz X is the digital investment unit of Allianz Group. It focuses on digital growth companies.
- Investment Focus Areas: Digital growth companies, particularly in insurance and financial services sectors.
- Notable Investments: Lemonade, WeLab, C2FO.
- Tencent
- Details: Tencent is a Chinese multinational conglomerate holding company. It is known for its investments in internet-related services and products.
- Investment Focus Areas: Internet-related services, artificial intelligence, technology.
- Notable Investments: Tesla, Spotify, Snap Inc.
What's Next for N26?
N26 is poised to capitalize on significant opportunities in the digital banking sector. With a strong presence in Europe and the U.S., the company is eyeing expansion into Brazil, pending a fintech license. The growing adoption of contactless payments and digital banking solutions presents a vast market for N26 to tap into, especially as it continues to innovate with new products and features.
Future fundraising efforts are likely as N26 seeks to maintain its growth trajectory and market position. The company has already demonstrated its ability to attract substantial investment, and further rounds could support its ambitious expansion plans and product development initiatives.
However, N26 faces challenges such as intense competition from other digital banks, regulatory hurdles, and the need to adapt to changing consumer behaviors. Navigating these obstacles will be crucial for N26 as it strives to solidify its position as a leader in the fintech industry.
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