The mobile bank is now valued at $3.5bn, making it one of Europe’s most valuable startups

N26 enters the top 10 of the most valuable fintechs worldwide. Source: n26.com

N26 announced a $170 million extension of its Series D funding round to $470 million. The extension drives N26’s valuation to $3.5 billion, making it the highest valued German startup. The mobile bank now also ranks among the most valuable European startups and the top 10 of the most valuable fintechs worldwide.

All previous investors from the Series D funding round in January 2019 extended their investment in the company. Among the participants are many of the world’s most established investors, including Insight Venture Partners, GIC (Singapore’s sovereign wealth fund), Tencent, Allianz X, Peter Thiel’s Valar Ventures, Earlybird Venture Capital, and Greyhound Capital. To date, N26 has raised more than $670 million.

N26 will use the additional funds to drive expansion in Europe, the US, and Brazil. The company will also invest in innovative new features. For example, N26 recently started relaunching its premium membership offering N26 You, and will soon launch Shared Spaces.

Today, N26 serves more than 3.5 million customers in 24 European markets, with 16 million transactions per month. Last week, the mobile bank launched its mobile banking app in the US, its first market outside of Europe. The company plans to launch next in Brazil and aims to reach over 50 million customers worldwide in the coming years.

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