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Challenger bank N26 raises $900 million at $9 billion valuation

Challenger bank N26 raises $900 million at $9 billion valuation

Challenger bank N26 has raised more than $900 million at a valuation of more than $9 billion.

Image: Atomic Imagery via Getty Images

N26 has raised more than $900 million in a series E round that values the German challenger bank at more than $9 billion, the company said Monday.

The funding round was led by Third Point Ventures and Coatue Management. N26 said it now has more than 7 million customers in 25 countries. The company said it expects to record more than $90 billion in transaction volume in 2021.

The investment underscores the growth of the digital banking industry, where N26 competes with startups like Chime and Current.

Benjamin Pimentel

Benjamin Pimentel ( @benpimentel) covers crypto and fintech from San Francisco. He has reported on many of the biggest tech stories over the past 20 years for the San Francisco Chronicle, Dow Jones MarketWatch and Business Insider, from the dot-com crash, the rise of cloud computing, social networking and AI to the impact of the Great Recession and the COVID crisis on Silicon Valley and beyond. He can be reached at bpimentel@protocol.com or via Google Voice at (925) 307-9342.

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