International legal practice has thus been involved in all major financing rounds of Fintechs in Germany since the outbreak of the crisis
Cologne / Berlin, May 5, 2020. The international legal practice Osborne Clarke advised Berlin-based Fintech N26 on the second expansion of the Series D financing round of USD 100 million. All major N26 investors were involved in the financing round, including Peter Thiels Valar Ventures, Insight Venture Partners and Singapore's sovereign wealth fund GIC. According to N26, the valuation continues to be USD 3.5 billion despite the current fluctuations in the capital markets due to the corona crisis. Since its inception, N26 has received a total of approximately USD 800 million from international donors.
The Osborne Clarke team, led by Nicolas Gabrysch, consisted of Till-Manuel Saur, Philipp Niedermeyer and Nicole Preuss (all corporate / VC). At N26, Dr. Robert Kilian and Anke Ulrich responsible.
Osborne Clarke involved in all major fintech financing rounds
The investment in N26 is the third major financing round of a German fintech since the outbreak of the corona crisis with the participation of Osborne Clarke. The financing rounds of the tax declaration app Taxfix for USD 65 million and the trading app Trade Republic for around EUR 44 million were also supported by Osborne Clarke, as was the smaller investment of around USD 20 million in Penta, a provider of accounts for corporate customers.
According to Georg Hauer, N26 General Manager Germany, the round of financing has no connection with the corona crisis. "The financing was agreed before the corona crisis began," says Hauer. The capital is to be used for the development of new products and growth in the core markets of Europe and the USA. It is also planned to enter the Brazilian market, and is currently applying for the corresponding license in the South American country. According to the company, N26 currently has more than five million customers in 25 countries.
About Osborne Clarke
Osborne Clarke is an international legal practice with over 1,800 employees at 26 locations worldwide. Around 400 employees work in an inspiring, appreciative and inspiring manner at our German locations in Cologne, Berlin, Hamburg and Munich, thus providing excellent advice to our clients. The sector-based approach enables us to provide our clients with legally and economically targeted advice and to support them in the challenges of today and tomorrow.