Mobile banking platform Number26 pulls in $40m from heavyweight VCs

Number26, a mobile banking platform, has raised $40m in its latest financing round, led by Horizons Ventures.

The fast-growing fintech business attracted influential venture capital investors including Peter Thiel’s Valar Ventures, Earlybird Ventures, Redalpine Ventures and Battery Ventures. The latter firm joined as a new backer alongside Zalando managers Robert Gentz, David Schneider, and Rubin Ritter.

Number26, which launched in 2013, won more than 200,000 new customers since the beginning of last year.

To date, it has raised total funding of $53m and plans to use the latest financing for the further expansion of its geographic footprint and its fintech platform.

The Berlin-based company currently operates in eight European markets.

Valentin Stalf, founder and CEO of Number26, commented, “This financing round brings together some of the world’s leading investors.

“They provide the substantial financial resources and networks to accelerate our transformation of the banking landscape over the coming years.

“Even given our success to date, we believe we are only at the beginning of our journey to bring better mobile banking to millions of customers across Europe, transparently and at much fairer prices.”

Frances Kang of Horizons Ventures, said, “We are excited to join Number26 to lead the innovation in retail banking and play an important role to create the bank of tomorrow.

“Bringing transparency and focusing on an intuitive banking experience will set them apart, so we look forward to their success and to being part of their global growth in the future.”

Number26 raised €10m ($11.3m) in a Valar Ventures-led Series A round in April 2015.

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