N26 collects EUR 700 million

Wednesday 13 October 2021 14:08 CET | News

Germany-based mobile banking company N26 has completed a new financing round.

According to information from SPIEGEL, the fintech collected approximately EUR 700 million from old and new donors and plans to use the new financing to start trading in securities and cryptocurrencies. Furthermore, the funds are to be used to improve the anti-money laundering systems.

The announcement come just a month after the digital bank enabled SEPA real time transfers. The function enabled users to make payments around the clock, 365 days a year. With account models N26 Smart, You and Metal N26 payment transfers are free, however with N26 Standard there is a cost of EUR 0.49 per outgoing transfer.

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Keywords: investment, expansion, cryptocurrency, AML, banks
Categories: Banking & Fintech
Countries: Germany
This article is part of category

Banking & Fintech