N26 extends Series D funding to USD 470 mln

Friday 19 July 2019 10:55 CET | News

German direct bank N26 has announced a USD 170 million extension of its Series D funding round to USD 470 million.

All previous investors from the Series D funding round in January 2019 extended their investment in the company. Among the participants are Insight Venture Partners, GIC, Tencent, Allianz X, Peter Thiel’s Valar Ventures, Earlybird Venture Capital, and Greyhound Capital.

The company recently launched its mobile banking app in the US, its first market outside of Europe. The company plans to launch next in Brazil and aims to reach over 50 million customers worldwide in the coming years.

N26 will use the additional funds to drive expansion in Europe, the US, and Brazil, and invest in new features. The challenger bank recently started relaunching its premium membership offering, N26 You, and will soon launch Shared Spaces.

It also plans to continue its investment in organisational and structural growth.

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Keywords: N26, mobile banking, funding, challenger bank, expansion
Countries: World