The smartphone bank’s valuation rises to around 8 billion euros

Smartphone bank N26

At Neobank, customers should be able to manage their accounts easily using their smartphone.

(Photo: dpa)

Düsseldorf, Frankfurt The smartphone bank N26 has been valued by investors at around eight billion euros despite sanctions and ongoing criticism from the financial supervisory authority Bafin. The “Spiegel” reported this on Friday afternoon, citing financial circles.

The Handelsblatt can confirm the information with its own sources. Accordingly, N26 has collected around 700 million euros from three new investors and significantly increased its previous valuation of 3.1 billion euros. At the request of the Handelsblatt, N26 did not want to comment on the information.

The Berlin company of the founders Valentin Stalf and Maximilian Tayenthal is thus the second most valuable start-up in Germany. It is also benefiting from a boom in financial technology companies.

In first place of the highest rated start-ups in Germany is the Munich tech company Celonis, which is currently valued at 9.1 billion euros. A comparison within the banking landscape is also interesting: N26 has now overtaken Commerzbank in its assessment.

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