N26 raises $900 million

Fintech startup N26 has closed a $900 million Series E round at a $9 billion valuation. The round was led by Third Point Ventures and Coatue Management, and joined by Dragoneer Investment Group, as well as N26’s existing investors.

Founded in 2013, the Allianz X-backed challenger bank now counts 7 million users across 25 countries, including the U.S. The company is also active in the insurance space – earlier this year it announced a partnership with simplesurance to cover electronics, and way before that it partnered with digital insurance broker CLARK. According to its site, new insurance products are underway including bike, home, and pet insurance.

“As we look to the future, we know that your expectations of us are evolving. We will never lose the spirit of innovation that makes N26 who we are. But we also know that we’re not a startup anymore. This funding round is not only a signal from our investors that they believe that digital banking is the future. It’s also a sign that we are now a leader that will define what our industry looks like in the years to come, with a new level of responsibility to do even better and do more to give customers the best and most secure digital banking experience possible.” – N26.