Challenger bank, N26 announced a $300 million Series D round. The funding comes as somewhat of a surprise, as the company closed a $160 million round in early 2018. The global ambitions of N26: TechCrunch cites three reasons why Germany-based N26 raised this warchest now:
- N26's user base tripled in a year (N26 currently has 2.3 million accounts) and about a third of customers are paying for the company's premium Black or Metal accounts.
- Valuations have grown for the challenger bank. The last round was done at under $1 billion. In this round, N26 was valued at $2.7 billion
- The company has global ambitions and is preparing for a U.S. launch. The firm will need deep pockets to penetrate competitive markets.