28 March 2017
visit nextgenbanking.co.uk

Germany's N26 aims to become Europe's leading mobile-only bank

15 March 2017  |  3943 views  |  0 Woman leaning on wall using smartphone

Berlin-based N26 has laid claim to becoming Europe's leading mobile-only bank, growing its user base to 300,000 and recording a seven-fold growth in transaction volumes over the past year.

Operating in 17 markets across the EU, the two-year old bank has processed more than EUR3 billion in transaction volumes since inception, with 60% of the total logged in the past year.

"January and February 2017 were the strongest months in terms of customer growth in our company's history," says Valentin Stalf, founder and CEO of N26. "We are on track to grow to a couple of million customers over the next years,"

Launched in Germany and Austria in January 2015, N26 began as a current account with a Mastercard. It now operates as a fully-featured bank with instant overdraft, international transfers into 19 currencies through a tie-up with TransferWise, investment options via Vaamo and real-time consumer credits up to EUR25,000.

Last December N26 expanded its coverage to raft of new markets, picking up 30,000 customers in France and 10,000 users in each of Spain and Ireland. The startup says it is currently racking up 1000 new users every day.

Stalf says the bank, which operates an in-app marketplace model for access to third-party products and services from fintech providers plans to add further savings and insurance products over the next month as part of a programme that will see coverage extended to all EU citizens.

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

N26 opens up to 17 European countries

N26 opens up to 17 European countries

06 December 2016  |  10448 views  |  1 comments | 19 tweets | 24 linkedin
N26 enlists Siri for money transfers

N26 enlists Siri for money transfers

14 September 2016  |  9503 views  |  0 comments | 28 tweets | 20 linkedin
N26 granted German banking licence

N26 granted German banking licence

21 July 2016  |  6941 views  |  0 comments | 8 tweets | 13 linkedin
Number26 raises $40m

Number26 raises $40m

21 June 2016  |  4793 views  |  0 comments | 8 tweets | 6 linkedin
Number26 closed accounts because customers made too many ATM withdrawals

Number26 closed accounts because customers made too many ATM withdrawals

06 June 2016  |  17053 views  |  5 comments | 28 tweets | 32 linkedin
Mobile bank Number26 faces Twitter outcry over hundreds of cancelled accounts

Mobile bank Number26 faces Twitter outcry over hundreds of cancelled accounts

01 June 2016  |  10268 views  |  3 comments | 22 tweets | 18 linkedin
Number26 adds in-app access to TransferWise API as startups gang up on banks

Number26 adds in-app access to TransferWise API as startups gang up on banks

25 February 2016  |  10950 views  |  0 comments | 14 tweets | 16 linkedin
Smartphone-only bank Number26 expands across Europe

Smartphone-only bank Number26 expands across Europe

03 December 2015  |  10965 views  |  0 comments | 28 tweets | 28 linkedin
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  |  7037 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  |  19590 views  |  1 comments | 23 tweets | 32 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit capgemini.comvisit abe-eba.eu

Top topics

Most viewed Most shared
French retailer Carrefour launches online bank accountFrench retailer Carrefour launches online...
57667 views comments | 17 tweets | 36 linkedin
European Commission opens public consultation on fintechEuropean Commission opens public consultat...
11302 views comments | 47 tweets | 28 linkedin
MAS to roll out national KYC utility for SingaporeMAS to roll out national KYC utility for S...
11173 views comments | 33 tweets | 44 linkedin
hands typing furiouslyTwo key technologies driving Machine Learn...
7979 views 0 | 15 tweets | 3 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job