Funding round
N26 Series B
N26, which works in digital banking services in Berlin, raised $40M in a Series B round announced on 21 Jun 2016, led by Horizons Ventures. 5 firms took part. It is N26's third venture round on record; the one before was a Series A in Apr 2015.
$40M
Amount raised
Not disclosed
Post-money valuation
5
Investors
1 lead
Valuation
What this round says about the price
N26 did not disclose a valuation in this round. It came 14 months after N26's Series A. It is 2.8% of the $1.41B N26 has raised in the venture rounds on record. N26 raised again 21 months later: a Series C round of $160M in Mar 2018. 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 16 Apr 2015, led by Valar Ventures $11M
- Series B this round 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
Horizons Ventures led the round with 4 other firms.
Lead investor
- backs 97 venture-backed companies new investor
Also in the round
- Battery Ventures backs 215 venture-backed companies new investor
- Valar Ventures backs 56 venture-backed companies new investor
- backs 111 venture-backed companies new investor
- backs 58 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: Series B rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Groceries | 27 Jun 2016 | $111M | not disclosed | Invus |
| Loans & Financing | 9 Jun 2016 | $75M | not disclosed | Exigent Capital and MainLine Investment Partners |
| Psychiatrists & Psychiatric Hospitals | 30 Jun 2016 | $50M | not disclosed | not named |
| Plaid Payment Processing & Point of Sale | 20 Jun 2016 | $44M | not disclosed | Goldman Sachs |
| Job&Talent Tech Companies | 14 Jun 2016 | $42M | not disclosed | Atomico |
| Biotechnology | 2 Jun 2016 | $40M | not disclosed | not named |
| Plastics Products | 28 Jun 2016 | $40M | not disclosed | Horizons Ventures and Iconiq Capital |
| Pharmaceutical Products | 15 Jun 2016 | $33M | not disclosed | Novo Holdings and Sofinnova Partners |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did N26 raise in its Series B round?
N26 raised $40M in its Series B round, announced in Jun 2016.
Who led N26's Series B round?
Horizons Ventures led it, with Battery Ventures, Valar Ventures, Earlybird and redalpine.
What was N26's valuation at the Series B round?
It was not disclosed.
Did N26 raise again after this round?
Yes: a Series C round in Mar 2018 of $160M.