Osborne Clarke has advised N26 GmbH, on the closing of its series C $160 million financing round. The financing round was co-led by Allianz X, the digital investment unit of Allianz Group, and Tencent Holdings Ltd., a leading provider of internet value-added services in China.

The funding represents the largest equity financing round (non IPO) in the fintech industry in Germany to date and one of the largest in Europe. The funding will be used toward N26’s overall growth strategy and international expansion, particularly into the US and UK.

N26 is a direct bank with focus on account management via smartphone. Since its launch in January 2015, N26 has acquired more than 850,000 customers and is one of the fastest growing European banks.

An Osborne Clarke team led by Corporate Partner Nicolas Gabrysch advised N26 on the investment. The team also included Till-Manuel Saur and Sophie-Clara Hoffmann (both Corporate).

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