N26 raises EUR 110 mln and seeks US expansion

Monday 19 March 2018 13:11 CET | News

German mobile challenger bank N26 has closed a USD EUR 110 million Series C funding round as it seeks to consolidate its presence in Europe and expand to the US.

The new funding brings the total raised to over EUR 160 million. N26 says its launch in the US is expected in June 2018 with over eight people employed in its NYC office. The funds will also be used to grow its team in Berlin.

Investors in the latest round include both US and European investors, who will be revealed in the official announcement from N26 that is expected within the next ten days.

Founded by Stalf and Maximilian Tayenthal, N26 began as a current account with a Mastercard. It now operates as a fully-featured bank providing customers in 17 European countries. 

For its core processing technology, N26 uses Mambu’s core banking system, provided on a hosted basis.

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Keywords: N26, series C funding, expansion, US, mobile bank
Categories: Banking & Fintech | Online & Mobile Banking
Countries: World
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