Osborne Clarke has advised N26 GmbH on the closing of its series D $300 million financing round. The financing round was led by venture capital and private equity firm Insight Venture Partners valuing N26 at $2.7bn. The round also includes participation from GIC, Singapore’s sovereign wealth fund, Allianz insurance and German venture capital firm Earlybird Venture.
The $300 million funding represents the largest private equity financing round for a fintech company in Europe in recent years. To date, N26 has raised more than $500 million from the world’s most established investors.
N26 will use the proceeds to drive global expansion, starting with the US launch of its mobile banking product in the first half of 2019. The company aims to reach over 100 million customers worldwide in the coming years.
Currently operating in 24 markets across Europe, N26 has more than tripled its customer base in the last 12 months to more than 2.3 million customers.
An Osborne Clarke team led by Corporate Partner Nicolas Gabrysch advised N26 on the investment. The team also included Till-Manuel Saur and Sophie Hoffmann (both Corporate).
Osborne Clarke regularly advises N26 including most recently on its $160m series C financing round.