The German challenger bank will focus on dominating the European market with the US becoming less of a priority after its latest fundraise.
“It gives us a lot of time over the next three to four years to line up for an IPO,” co-founder and CEO Valentin Stalf told me earlier today. N26 also plans to hire 1,000 people “as soon as possible”. Third Point Ventures and Coatue Management are leading this Series E round.
In a blog post to customers, N26 has sought to gloss over a move by Germany's financial regulator, BaFin, to impose a temporary cap on the number of new customers the digital challenger is allowed to onboard each month.