N26 makes $900 million funding now official
This makes the fintech a ninefold unicorn. However, Bafin is imposing restrictions on new customer business.
Rumors have been circulating for days, but now it's official: the neobank N26 has completed a mega financing round of over 900 million US dollars. This confirms reports from the Spiegel. In total, N26 is now worth around nine billion US dollars.
The money comes from the US VCs Third Point Ventures and Coatue. The Dragoneer Investment Group and some existing investors are also contributing money. N26 intends to use the new capital to create 1,000 new jobs; the fintech currently employs around 1,500 people worldwide.
At the same time, N26 announced that the German financial supervisory authority Bafin has imposed strict conditions on the company. In the coming months, the number of new customers in Europe will be limited to between 50,000 and 70,000. According to the bank, this could mean that interested parties may have to wait some time for their account.
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