This year has been an eventful one for the ambitious start-up N26. Since its launch in 2013, founders Valentin Stalf and Maximilian Tayenthal worked hard to launch the first mobile banking platform that the world would love to use by 2015. Fast forward to this year, and the company is only speeding up with a recent slew of big hires as well as a successful funding round.
In May of this year, N26 closed a $100 million funding round that raised the company’s total value to $3.5 billion. Despite having raised a total of almost $800 million in venture capital since its inception, Bloomberg recently reported that the company is already entertaining the notion of seeking further investments next year. The increasing demand for online banking technology, along with its cash-favoring market in Berlin, will be especially profitable for the fintech following the pandemic.
Another recent development with N26 is notable hires in the C-suite with a new Chief People Officer and Chief Operating Officer announced at the end of September. The Chief People Officer is former Adidas executive, Diana Styles, who will be overseeing employee experience, leadership and organizational development, recruiting, and employer brand and people operations. Taking on the title of Chief Operating Officer is former Dropbox VP Adrienne Gormley.
With extensive experience and success between the two women, it appears N26 is preparing for a chapter of transformational growth and change with highly adept leaders tapped to oversee the 1,500 employees that serve over 5 million customers in 25 markets. Both women will be reporting directly to N26 co-founder and CFO Maximilian Tayenthal.
Speaking on the hires, Tayenthal shared, “As we work towards our vision to serve 100 million customers globally, their skills and expertise will help us lay all-important foundations for us to achieve our ambitions”.
It is clear N26 is making bold strides towards its goal, which has certainly been boosted through its success as a flexible financial institution, and its services are favored over that of “digitally mature” or outdated institutions. While it is not confirmed that the company will pursue a further funding round, the company is undoubtedly looking toward further growth in the coming months.