N26 increased capitalisation by a further 100 million dollars
N26 closed its series D financing round, and could fetch 100 million USD, in addition, in the company’s cash. The previously accumulated sums of money to 570 million USD. Among the supporters of the Bank, Peter Thiel.
A further 100 million US dollars, the Online Bank, N26, is expanding its series D round of financing, which had already been in the year 2019 to be announced. To include the re-financiers, the stock of Tencent investors such as Peter Thiel’s Valar Ventures or China’s.
According to the news channel CNBC, secured N26 thus, alone in this series-D funding round, a total amount of 570 million USD.
The platform for Online Banking is considered to be particularly crypto-friendly and -savvy. To date, the platform has collected through the extension of the last round, a total of 770 million USD. The enterprise value is estimated at 3.5 billion USD.
Co-founder and N26-CEO Valentin Stalf looks at the capital round against the Background of the current Covid-19-crisis and high market volatility for a full success. The Bank wants to stick to its course of expansion in order to establish in the area of Digital Banking is at a fixed position in the leadership.
Stalf refers to a current increase in the area of Home-Banking in the crisis, which of course is due to the behavior of the population and the government’s targets in the fight against the pandemic. In the CNBC interview, the CEO also confirmed a decline in the use of the ATM by the customer, but the Figures in the field of E-Commerce have increased payments within a few weeks.
The Bank’s strategy, the company wants to use according to the Stalf, the fresh capital to Finance the next two to three years, and to overcome the crisis.
Because of the current economic and health crisis also relates to N26, the last examination of the numbers of customers (5 million registered users) also pointed at the digital Bank on a slower growth in the context of the far-reaching restrictions within Europe.
After only 18 months N26 had to set his until the end of 2018, started Service in the UK – Brexit, thank. As the reason the company, that the appropriate licenses are missing, what it means for the operation of the British branch.
A re-entry into the UK market N26 continues to aim, at the same time the markets of Latin America and especially Brazil companies and consumers in mind.
N26 ranks as one of the Startups in the so-called Fintech sector that, in Europe, exclusively on services in the area of Online Banking continues. Many crypto-traders are betting on the offer of the Bank for crypto-friendly orientation of the business model.
In this role, N26, such as different competitors, has been able to millions of customers. One of the competitors is Revolut, whose customers can exchange Fiat money in five of the currently most important Coins are BTC, Ethereum (ETH), Ripple (XRP), Bitcoin, Cash (BCH) and Litecoin (LTC).
Revolut received in February of last financial syringe with a total volume of 5.5 billion US dollars.
