A unicorn is born
German neobank N26 completed another funding round valuing the company at USD 2.7 bn. This news boosted the fintech to “unicorn” status – a private company worth over USD 1.0 bn.
With its new firepower of USD 300 million, N26 aims to expand globally, starting with the US in early 2019 and followed by Asia and South America. In just 5 years, the company raised cumulative USD 513 million, as visualized in the chart below.
As such, the company took over its British rival Revolut in both total funding and valuation (Revolut was valued at USD 1.9 bn. in April 2018), making it one of the highest valued fintechs in Europe.