N26 makes $900 million funding now official
This makes the fintech a ninefold unicorn. However, Bafin imposes restrictions on new customer business.
Rumors have been swirling for days, and now it's official: neobank N26 has closed a $900 million mega funding round. This confirmed reports from the Berlin-based Mirror. In total, N26 is now worth about nine billion US dollars.
The money comes from US VCs Third Point Ventures and Coatue. Dragoneer Investment Group and some existing investors are also pouring in money. With the new capital, N26 plans to create 1,000 new jobs; so far, the fintech employs about 1,500 people worldwide.
At the same time, N26 announced that German financial regulator 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. In part, this could mean that prospective customers will have to wait some time for their account, the bank said.
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N26
N26 is the first bank you will love. It offers a mobile bank account with no hidden fees.
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