Number26, a Peter Thiel-backed mobile banking startup that s setting out to create the bank account of the future, has raised $40 million in a Series B round led by Horizons Ventures.
Battery Ventures, Robert Gentz, David Schneider, and Rubin Ritter also joined the round as new investors, while existing backers, including Peter Thiel s Valar Ventures, Earlybird Ventures, and Redalpine Ventures also participated.Founded out of Berlin, Germany in 2013 by Maximilian Tayenthal and Valentin Stalf, Number26 offers mobile-first bank accounts similar to BankMobile or Simple in the U.S.
With $40 million more in the coffers, Number26 will now push to grow in more markets and launch new finance products across savings, investments, and credit to create a true fintech platform, Stalf said on stage at MoneyConf in Madrid.In an interview with VentureBeat last year, cofounder and CFO Tayenthal indicated that the company planned to enter verticals beyond checking accounts through partnering with complementary fintech startups.
And Number26 has followed through on that goal by teaming up with TransferWise to give customers in-app access to a cheap international money-transfer service.
We ve also built a highly scalable technology base using an extremely lean organizational structure.
This financing round brings together some of the world s leading investors, added Stalf.