On Thursday, the Berlin-based N26 said it has raised an additional $ 170 million in the last round of funding, bringing its estimate to $ 3.5 billion, as the online bank seems to accelerate expansion to markets outside Europe, including the US.
The firm said it expanded its D Series funds by about $ 170 million to $ 470 million. To date, the N26 has said it has raised more than $ 670 million.
The firm said investors, including Tencent Holdings Ltd and Allianz’s digital investment group, participated in the last round of funding.
The N26, which counts Chinese billionaire Li Ka-shing and Silicon Valley investor Peter Thiel among his supporters, is competing with traditional retailer banks offering a line of mobile banking services that customers can use entirely from their smartphone.
The online bank has more than 2.5 million clients. He said he would use the extra money to accelerate its postponement to Europe, the United States and Brazil./Investing.com