28 June 2017
Visit cib.db.com

Smartphone-only bank Number26 expands across Europe

03 December 2015  |  11172 views  |  0 Business man using Smartphone

German smartphone bank Number26 is to expand across Europe, opening its mobile-only account to consumers in France, Greece, Ireland, Italy, Slovakia, and Spain.

The expansion brings the total number of countries where Number26 is active to eight, following its initial launch in Germany and Austria earlier this year.

"The markets we chose to enter now are perfect examples of a bad user experience and overpriced retail banking products," says CFO and founder Maximilian Tayenthal. "It's here we start to build the first true pan-European bank."

The move into new markets comes six months after the startup 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.

The Number26 bank account features account opening in eight minutes via a video phone chat and the presentation of a passport. The account comes with a MasterCard and offers individual security settings, convenient financial management tools and push notifications for every transaction.

The company claims to have opened 80,00 accounts since it opened for business in Berlin at the start of the year.

"Our vision from the start hs been to build Europe's first bank account for the smartphone," says CEO and founder Valentin Stalf. "We see traditional banks as having failed to adapt to the demands of the digital generation."

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

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

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

16 April 2015  |  7338 views  |  0 comments | 7 tweets | 4 linkedin
Number26, a smartphone-only banking service, launches in Germany

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

26 January 2015  |  19888 views  |  1 comments | 23 tweets | 32 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.www.fisglobal.comvisit www.response.ncr.comvisit vasco.com/news/PSD2-compliant-solutions

Top topics

Most viewed Most shared
Live: EBAday 2017, day twoLive: EBAday 2017, day two
11413 views comments | 4 tweets | 5 linkedin
ECB preps eurozone-wide instant payments serviceECB preps eurozone-wide instant payments s...
8903 views comments | 19 tweets | 34 linkedin
ABN Amro tests wearable tech for contactless paymentsABN Amro tests wearable tech for contactle...
8401 views comments | 9 tweets | 6 linkedin
hands typing furiouslyArtificial Intelligence- Computer to IOT
8334 views 0 | 4 tweets | 2 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job