Today is a big day.
We're thrilled to announce that we have just closed our Series C round, with additional funding of USD 160 million led by Allianz X and Tencent. This is a record for this type of funding in the German fintech industry—and one of the biggest across Europe—bringing our total funding to date to $215 million.
Investing in the future: our $160 million Series C funding
We believe that both Allianz X and Tencent are the perfect choice to help make N26 a market leader in mobile banking.
Allianz and Tencent joining our family of existing investors is an incredible achievement that we’re very proud of. Allianz is one of the world’s largest asset management and leading insurance firms and is considered one of the most trusted brands in the financial services industry. Tencent has gone from a pioneer to market leader in social media, gaming, e-commerce, and mobile payments in China. Its flagship product WeChat now has over one billion active monthly users. It recently even surpassed Facebook in market value.
The good news doesn’t stop there, though. We now have over 850.000 customers! That’s a big jump from our 500.000 announcement in August 2017. You can read more about it in the press release here.
Looking ahead, we’re very excited about what this latest funding round represents. It’s not just the amount of money we raised. To us, it’s a confirmation of our vision and our mission to build a bank the world loves to use.
For customers, this is a direct investment in our product. With it, we’ll be able to invest in making banking even more intelligent and simpler. We will go a step further by making banking even smarter and more personalized for all of our customers through the use of artificial intelligence. We’re pushing ahead with our international expansion to the UK and US, where we are launching later this year.
We can't wait to show you what's coming next. And promise that the best is yet to come.