20 October 2017
visit www.response.ncr.com

Number 26 gets EUR10m in funding from Peter Thiel's Valar Ventures

16 April 2015  |  7958 views  |  0 golden egg

German smartphone bank Number26 has scooped EUR10 million in funding from Valar Ventures, marking the second European fintech investment by Peter Thiel's fund, which had previously invested in Transferwise.

Number 26 offers a smartphone-only bank account. It claims to have added 8,500 customer in it's first two months of trading with an additional 15,000 on the waiting list. 

In addition to the Valar Ventures Series A investment round, the Swiss entrepreneur Daniel S. Aegerter is also joining this round. Existing investors in Number 26, Earlybird and Redalpine, complete the funding. 

Andrew McCormack, Partner Valar Ventures, says: "We are delighted to support Valentin and Maximilian in changing banking. Number 26 already offers the most modern bank account for smartphones. We see huge potential for companies who are pursuing innovative paths in banking."

The Number 26 bank account features account opeing in eight minutes, individual security settings, convenient financial management tools and push notifications for every transaction.

Valentin Stalf, founder & CEO at Number 26 says: "Winning Valar Ventures’ backing is a huge step for us. Their experience with PayPal, Transferwise and Xero has already set an example for the disruption of the outdated models in financial technology. Valar’s experience and networks will help us build an even greater company.”

 

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Europe sets the pace as fintech investment triples in 2014

Europe sets the pace as fintech investment triples in 2014

26 March 2015  |  14279 views  |  0 comments | 33 tweets | 21 linkedin
Number26, a smartphone-only banking service, launches in Germany

Number26, a smartphone-only banking service, launches in Germany

26 January 2015  |  20442 views  |  1 comments | 23 tweets | 32 linkedin
Richard Branson joins $25m TransferWise funding round

Richard Branson joins $25m TransferWise funding round

10 June 2014  |  8604 views  |  0 comments | 3 tweets | 6 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.capgemini.comvisit www.fivedegrees.nl

Top topics

Most viewed Most shared
satelliteGates Foundation backs Ripple collaboratio...
8475 views comments | 13 tweets | 10 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
8380 views comments | 21 tweets | 26 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7497 views comments | 9 tweets | 17 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
6892 views comments | 10 tweets | 22 linkedin
Eight banks form joint venture to launch blockchain trade platformEight banks form joint venture to launch b...
6557 views comments | 14 tweets | 23 linkedin

Featured job

Competitive base + commission + benefits
Denmark, Finland, Iceland, Norway or Sweden

Find your next job