German fintech N26 has raised $300 million in a new funding round. Valued at $2.7 billion, N26 has been backed by Insight Venture Partners, as well as Singapore’s sovereign wealth fund GIC and several existing investors.
N26 is building a mobile bank and has global aspirations. Just last year, the company tripled its customer base. Having expanded to the U.K., Denmark, Norway, Poland and Sweden, it's currently operating in 24 European countries.
“Around the world, millions of people still suffer from bad banking experiences and high fees,” said Valentin Stalf, CEO and co-founder of N26. “With Insight Venture Partners and GIC joining our renowned group of existing investors, N26 has the support of the best investors globally to disrupt one of the largest industries in the world.”
N26 is using the new funds to launch its US expansion in the first half of 2019.