N26 apparently on its way to becoming a public company

Neobank wants to be structurally prepared for an IPO by the end of the year. The initial listing could then take place in 2024.

The Berlin-based neobank N26 continues to flirt with a possible IPO. At the Mobile World Congress in Barcelona, founder Max Tayenthal told CNBCthat his start-up wants to be "structurally IPO-ready" by the end of the year. The stock market debut could then take place in 2024.

Last year, N26 had already raised 900 million US dollars. This makes the start-up worth around nine billion US dollars. Tayenthal's message at the trade fair is that the neobank is in no real hurry to go public. However, according to Finance Forward , N26 is already working on converting its current company form from a GmbH (limited liability company) to a German stock corporation (AG) to a European stock corporation (SE).

A look at the recently published business figures shows that Neobank is developing positively. The number of customers continued to rise in 2020 and commission income increased by 15 percent to EUR 95.3 million.