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Mobile-first bank N26 raises $300m at a valution of $2.7bn

Tyrone Stewart

N26German fintech startup N26 has raised $300m in its latest funding round, bringing its valuation up to $2.7bn. The round was led by Insight Venture Partners with participation from GIC, Singapore’s sovereign wealth fund, and some existing investors.

The Series D funding comes just 10 months after the company picked up $160m in a funding round led by the Allianz Group’s digital investment unit, Allianz X, and Tencent Holdings. In total, the startup has raised more than $500m from investors.

“Around the world, millions of people still suffer from bad banking experiences and high fees,” said Valentin Stalf, CEO and co-founder of N26. “With Insight Venture Partners and GIC joining our renowned group of investors, N26 has the support of the best investors globally to disrupt one of the largest industries in the world.”

N26 currently operates in 24 markets across Europe, and has set its sights on landing in the US in the first half of this year. In the last 12 months, it has tripled its customer base to more than 2.3m people – with ambitions to reach over 100m customers around the world in the ‘coming years’.