Funding round
N26 Series A
N26, which works in digital banking services in Berlin, raised $11M in a Series A round announced on 16 Apr 2015, led by Valar Ventures. 13 firms took part, with 7 individual investors. It is N26's second venture round on record; the one before was a Seed in Jun 2014.
$11M
Amount raised
Not disclosed
Post-money valuation
13
Investors
1 lead
Valuation
What this round says about the price
N26 did not disclose a valuation in this round. It came 10 months after N26's Seed. It is under 1% of the $1.41B N26 has raised in the venture rounds on record. N26 raised again 14 months later: a Series B round of $40M in Jun 2016. Its next priced round, a Series D in Jan 2019, valued it at $2.70B.
N26's funding rounds
N26 has 6 venture rounds on record. This one is highlighted.
- Seed 1 Jun 2014, led by Earlybird $2.0M
- Series A this round 16 Apr 2015, led by Valar Ventures $11M
- Series B 21 Jun 2016, led by Horizons Ventures $40M
- Series C 20 Mar 2018, led by Tencent Holdings Ltd., Allianz X and Allianz $160M
- Series D 9 Jan 2019, led by Insight Partners and GIC $300M$2.70B post-money
- Series E 18 Oct 2021, led by Third Point Ventures and Coatue $900M$9.00B post-money
Investors
Who put money in
Valar Ventures led the round with 12 other firms.
Lead investor
- Valar Ventures backs 56 venture-backed companies new investor
Also in the round
- backs 111 venture-backed companies new investor
- backs 58 venture-backed companies new investor
- backs 95 venture-backed companies new investor
- backs 10 venture-backed companies new investor
- Menlo Ventures backs 215 venture-backed companies new investor
- backs 57 venture-backed companies new investor
- practical venture capital new investor
- backs 68 venture-backed companies new investor
- backs 47 venture-backed companies new investor
- backs 196 venture-backed companies new investor
- backs 20 venture-backed companies new investor
- Vayner RSE new investor
Individual investors: guy podjarny, heiko rauch, jay baer, lisa gansky, loic le meur, richard fearn and daniel aegerter.
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: 2 in Banks & ATMs, then Series A rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| WeLab Banks & ATMs | 8 Jan 2015 | $20M | not disclosed | not named |
| Banks & ATMs | 8 Jul 2014 | $20M | $100M | Greylock Partners and Index Ventures |
| Honor Home Health Care | 2 Apr 2015 | $20M | $55M | not named |
| Food Production | 14 Apr 2015 | $16M | not disclosed | New Enterprise Associates |
| Money Transfer | 16 Apr 2015 | $11M | not disclosed | Octopus Investments |
| Tech Companies | 1 Apr 2015 | $10M | not disclosed | Emergence Capital |
| Pharmaceutical Products | 8 Apr 2015 | $10M | not disclosed | Ally Bridge Group |
| Tech Companies | 28 Apr 2015 | $10M | not disclosed | Union Square Ventures |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did N26 raise in its Series A round?
N26 raised $11M in its Series A round, announced in Apr 2015.
Who led N26's Series A round?
Valar Ventures led it, with Earlybird, redalpine, Creandum, Highline Beta and Menlo Ventures and 7 more.
What was N26's valuation at the Series A round?
It was not disclosed.
Did N26 raise again after this round?
Yes: a Series B round in Jun 2016 of $40M.