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N26 plans to be IPO-ready by the end of 2022

Wednesday 2 March 2022 13:10 CET | News

Germany-based banking startup N26 has announced it will be prepared for an initial public offering (IPO) by the end of 2022.

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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Keywords: digital banking, banks, N26, IPO, funding
Categories: Banking & Fintech
Companies:
Countries: Germany
This article is part of category

Banking & Fintech






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