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N26 Hits 250,000 U.S. Customers in First Five Months

Globally, the company recently reached 5 million customers to coincide with its fifth anniversary following a year of record growth

New York - ​N26 Inc., the U.S. subsidiary of one of Europe’s fastest-growing mobile banks, N26 GmbH, today announced it has reached 250,000 U.S. customers. Having only launched in the U.S. last August in partnership with Axos Bank, N26 has grown rapidly to become a leading force in changing how American consumers bank.

From its inception, N26 has focused on creating a seamless, beautifully designed user experience that provides customers with a forward-thinking, and flexible banking experience. Just last month, N26 expanded its Perks program, one of the first debit rewards programs, to offer cashback and discounts from leading brands, including Booking.com, Lime, and Headspace. Additionally, N26 recently launched a redesigned core navigation in an effort to help streamline the actions that matter most to users.

Without ever setting foot in a branch, through N26 customers can open an account in less than five minutes, instantly transfer money to their friends with MoneyBeam, and easily open sub-accounts for their savings goals using Spaces. Accounts opened through N26 also have no hidden fees and offer access to a network of over 55,000 Allpoint surcharge-free ATMs. Also, users can get their pay up to 2 days earlier with direct deposit*. Banking services in the U.S. are offered by N26 Inc. in partnership with Axos®​ Bank, Member FDIC.

The app also gives customers access to a range of security features, including setting spending limits, locking their card if its lost, and enabling or disabling international charges. With several launches planned for 2020, N26 aims to stay at the forefront of innovation by delivering products that address customer needs, with the ultimate goal of empowering users to make their money work for them.

“American consumers are too reliant on traditional banks and face roadblocks to their financial health that have no place in the 21st century. N26 was founded to radically transform the industry and break down these barriers through the power of technology,” said Nicolas Kopp, U.S. CEO, N26 Inc​. “We’re incredibly proud to have reached a quarter-million U.S. customers in our first five months and we are just getting started. We have big plans to offer millions of future N26 users a feature-rich, easy-to-use banking experience.”

Globally, N26 GmbH surpassed 5 million customers as it reached its fifth anniversary on January 26. Boasting a strong workforce of almost 1,500 employees, it combines 80 nationalities across offices in Berlin, New York, Barcelona, Vienna, and São Paulo.

N26 has put a heavy focus on its investments in product, service quality, and people. In 2019, N26 had a year of unprecedented growth, more than doubling its global customer base — which accounts for more than every single year previously combined. Additionally, the company raised $470 million in funding, which bolstered its launch in both the U.S. and Switzerland, as well as fund the opening of a new Tech Hub in Vienna. N26 launched new products and features designed specifically to make banking even more personalized and flexible to suit a range of lifestyles.

“5 million customers is a great achievement, but it’s not just growth that we are after. We are today, one of the biggest players in digital banking. But we have not forgotten our original mission - to challenge an industry that is ripe for change. N26 has proved that banking can be simple and intuitive through the use of technology,” added Valentin Stalf, co-founder and CEO of N26.

To learn more about N26, visit ​https://n26.com/en-us

N26 Press Contact press@n26.com

About N26

N26 is building the first mobile bank the world loves to use. Valentin Stalf and Maximilian Tayenthal founded N26 in 2013 and launched the initial product in early 2015. Today N26 has more than 5 million customers in 25 markets. The company employs more than 1.500 employees across 5 office locations: Berlin, New York Barcelona, Vienna and São Paulo. With a full European banking license, state-of-the-art technology and no branch network, N26 has redesigned banking for the 21st century and is available on Android, iOS, and desktop. N26 has raised close to $800 million from the world’s most established investors, including Insight Venture Partners, GIC, Tencent, Allianz X, Peter Thiel’s Valar Ventures, Li Ka-Shing’s Horizons Ventures, Earlybird Venture Capital, Greyhound Capital, Battery Ventures, in addition to members of the Zalando management board, and Redalpine Ventures. N26 currently operates in: Austria, Belgium, Denmark, Estonia, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, Switzerland and the US, where it operates via its wholly-owned subsidiary, N26 Inc., based in New York. Banking services in the US are offered by N26 Inc. in partnership with Axos® Bank, Member FDIC.