Member-only story
N26 is a digital bank founded by Valentin Stalf and Maximilian Tayenthal in Germany and currently operates in Eurozone and plans to expand to US.
It is the Digital Bank that makes your life easier and can free you from the usual inefficient, slow, and expensive traditional banks. Creating an account takes minutes and everything happens on your phone.
Launched in Germany and Austria in January 2015, N26 began as a current account with a Mastercard.
N26 has now more than 2 million customers, oversees a total of 1.5 Billion in transaction every month and raised $212.8M in funding in 5 rounds — and mind you there is no single bank branch.
The main drive behind N26 is frustration in lack of transparency, digital innovation, and personalized service and offerings in the traditional banks. They believed in e-commerce and entertainment, the experience is mobile-friendly and easy to use but most banking products are really difficult for customers, and no one enjoys interacting with them.
Founders of N26 believe that people of all ages are ready for digitally enabled simplicity and seamlessness, especially in personal banking. (“Why can’t we ‘Spotify’ banking?” they ask.)
N26’s strategy is to combine all the complexity of an individual’s financial life — with accounts and cards…
