N26 raises more than $100M in extension of its Series D funding

“The adoption of digital banking is accelerating as the world adjusts to a new normal. As one of the world’s leading challenger banks, N26 is front and center in this shift, driving global innovation from our base in Europe. With banking from home now more important than ever, we want to make sure that everyone can open a bank account in minutes to explore the freedom and safety of mobile banking,” said Valentin Stalf, co-founder and CEO of N26.

“In these turbulent times, digital banking is no longer a thing of the future, but a part of everyday reality. With 5 million customers today, N26 is just at the beginning of their journey to transform the face of banking globally. This funding extension will help an already well-funded and successful business take the lead at a time when people are embracing digital banking more than ever,” said James Fitzgerald from New York based venture capital fund, Valar Ventures.

“The last month has already seen many people embrace banking from home, move away from cash, and towards contactless payments and e-commerce. We’ve even seen unprecedented growth in online spending amongst customers above the age of 65 - an important sign that digital banking is becoming increasingly relevant for everyone. Our product teams have responded to this by accelerating new features to market, and will continue to build still more innovative products to help people bank seamlessly and safely on their mobile phones, no matter where they are,” added Maximilian Tayenthal, co-founder of N26, highlighting N26’s new instant banking feature that allows customers to add a digital version of a new card to their mobile wallet giving them immediate access to contactless payments, even without a physical card.