Funding round
N26 Series D
N26, which works in digital banking services in Berlin, raised $300M in a Series D round announced on 9 Jan 2019, led by Insight Partners and GIC, at a $2.70B post-money valuation. 19 firms took part, 8 of them already investors. It is N26's fifth venture round on record; the one before was a Series C in Mar 2018.
$300M
Amount raised
$2.70B
Post-money valuation
$2.40B pre-money
19
Investors
2 leads
11%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced N26 at $2.70B after the new money. The $300M bought investors about 11% of the company. It came 10 months after N26's Series C. It is 21% of the $1.41B N26 has raised in the venture rounds on record. N26 raised again 33 months later: a Series E round of $900M in Oct 2021, at $9.00B post-money.
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 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 this round 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
Insight Partners and GIC led the round with 17 other firms. Insight Partners, Tencent, Allianz X and Valar Ventures and 4 more had backed N26 before.
Lead investors
- Insight Partners backs 548 venture-backed companies existing investor
- GIC backs 98 venture-backed companies new investor
Also in the round
- Tencent existing investor
- Allianz X backs 23 venture-backed companies existing investor
- Valar Ventures backs 56 venture-backed companies existing investor
- backs 97 venture-backed companies existing investor
- backs 111 venture-backed companies existing investor
- backs 58 venture-backed companies existing investor
- Greyhound Capital existing investor
- backs 77 venture-backed companies
- backs 10 venture-backed companies
- Menlo Ventures backs 215 venture-backed companies
- backs 57 venture-backed companies
- backs 9 venture-backed companies
- backs 68 venture-backed companies
- backs 47 venture-backed companies
- backs 196 venture-backed companies
- backs 20 venture-backed companies
- Vayner RSE
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: Series D rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Media Companies | 14 Jan 2019 | $264M | $1.06B | Boyu Capital |
| Auto Parts Manufacturers | 9 Jan 2019 | $115M | not disclosed | Franklin Templeton Investments |
| Employment Agencies & HR Consulting | 23 Jan 2019 | $100M | not disclosed | Generation Investment Management |
| Glaziers & Glass Products | 30 Jan 2019 | $100M | not disclosed | SK Holdings |
| Medical Supply Manufacturers | 3 Jan 2019 | $77M | not disclosed | Gilde Healthcare and BioStar Ventures |
| Cosmetic Manufacturing | 29 Jan 2019 | $51M | not disclosed | Norwest and True Ventures |
| Tech Companies | 29 Jan 2019 | $50M | not disclosed | Future Fund and Glynn Capital |
| Tech Companies | 1 Jan 2019 | $50M | not disclosed | Riverwood Capital |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did N26 raise in its Series D round?
N26 raised $300M in its Series D round, announced in Jan 2019.
Who led N26's Series D round?
Insight Partners and GIC led it, with Tencent, Allianz X, Valar Ventures, Horizons Ventures and Earlybird and 12 more.
What was N26's valuation at the Series D round?
$2.70B post-money ($2.40B pre-money).
Did N26 raise again after this round?
Yes: a Series E round in Oct 2021 of $900M at $9.00B post-money.