N26 apparently on its way to becoming a public company
Jan Schulte
| 04.03.2022
Neobank wants to be structurally prepared for an IPO by the end of the year. An initial listing could then take place in 2024.
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. That makes the start-up worth about nine billion U.S. dollars. There is no real rush, Tayenthal's message at the show, for the neobank to go public. According to Finance Forward, however, N26 is already working on changing its current corporate 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. For example, the number of customers continued to rise in 2020, and commission income increased by 15 percent to 95.3 million euros.
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