N26 offers fee-free checking accounts through an app, competing with established lenders in addition to rival fintech firms.
The company was founded in 2013 and it has since grown into a USD 9 billion business. N26 recently raised USD 900 million in fresh funding to help it branch out beyond retail banking into new areas like crypto and stock trading.
N26 is a licenced bank, and in 2020 had around USD 4.8 billion sitting on its balance sheet. However, N26 remains unprofitable. The group reported a net loss of USD 167.1 million in 2020.
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