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Online & Mobile Banking

N26 raises USD 300 mln reaching USD 2.7 bln valuation

Thursday 10 January 2019 | 10:21 AM CET

German fintech company N26 has raised USD 300 million from investors in a round of funding, valuing the online lender at USD 2.7 billion.

The funding round was led by US private equity company Insight Venture Partners with additional backing from Singaporean sovereign wealth fund GIC. Its other backers include Chinese tech company Tencent, German insurer Allianz and PayPal co-founder Peter Thiel’s venture arm Valar Ventures.

According to CNBC, this valuation puts the company among the ranks of Europe’s unicorns, making it one of the most valuable unicorns in Europe. Moreover, based on the data compiled by CB Insights, just six other privately held European companies can claim to top N26′s market value: Global Switch, Roivant Sciences, Auto1 Group, Ottobock, The Hut Group and BGL Group.

The company’s mobile bank app is currently available in 24 European countries. It recently added the UK to the list, and sees itself broadening its international footprint again, with a US expansion due at the beginning of 2019.

More: Link
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