Berlin-based banking startup N26 claims to have recruited 250,000 new customers in the US, just six months after opening its doors Stateside.
The digital banking app now now boasts five million customers, a significant increase from its 3.5 million users last summer, with European markets proving the most fertile region for growth.
With the US launch, operated in partnership with Axos Bank, N26 scents further opportunities for growth.
“American consumers are too reliant on traditional banks and face roadblocks to their financial health that have no place in the 21st century,” says Nicolas Kopp, US CEO, N26. “We’re incredibly proud to have reached a quarter-million US 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.”
Boasting a workforce of almost 1500 employees, N26 raised $470 million in equity financing last year, which bolstered its launch in both the US and Switzerland, as well as funding the opening of a new tech hub in Vienna.