Funding round
N26 Series E
N26, which works in digital banking services in Berlin, raised $900M in a Series E round announced on 18 Oct 2021, led by Third Point Ventures and Coatue, at a $9.00B post-money valuation. 5 firms took part. It is N26's sixth venture round on record; the one before was a Series D in Jan 2019.
$900M
Amount raised
$9.00B
Post-money valuation
$8.10B pre-money
5
Investors
2 leads
3.3x
Step-up from the Series D
$2.70B in Jan 2019
10%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced N26 at $9.00B after the new money, 3.3 times the $2.70B of its Series D (Jan 2019). The $900M bought investors about 10% of the company. It came 33 months after N26's Series D. It is 64% of the $1.41B N26 has raised in the venture rounds on record. No later venture round is on record for N26.
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 9 Jan 2019, led by Insight Partners and GIC $300M$2.70B post-money
- Series E this round 18 Oct 2021, led by Third Point Ventures and Coatue $900M$9.00B post-money
Investors
Who put money in
Third Point Ventures and Coatue led the round with 3 other firms.
Lead investors
- Third Point Ventures new investor
- Coatue backs 229 venture-backed companies new investor
Also in the round
- Dragoneer Investment Group backs 82 venture-backed companies new investor
- Goldman Sachs backs 218 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 hiring, product development, geographic expansion, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: 1 in Banks & ATMs, then Series E rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Revolut Banks & ATMs | 15 Jul 2021 | $800M | $33.00B | SoftBank Vision Fund and Tiger Global |
| BetterUp Professional & Management Training | 8 Oct 2021 | $300M | $4.70B | Wellington Management and ICONIQ Growth |
| Coinmerce Cryptocurrency | 12 Oct 2021 | $270M | $6.30B | Greenoaks |
| CRED Payment Processing & Point of Sale | 18 Oct 2021 | $251M | $4.01B | Tiger Global and Alpha Wave Global |
| CarDekho Automobile Dealers & Manufacturers | 13 Oct 2021 | $250M | $1.20B | LeapFrog Investments |
| Devo Tech Companies | 26 Oct 2021 | $250M | $1.50B | Technology Crossover Ventures |
| Tech Companies | 26 Oct 2021 | $180M | $1.00B | Baker Hughes |
| Tech Companies | 5 Oct 2021 | $150M | $800M | Permira |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did N26 raise in its Series E round?
N26 raised $900M in its Series E round, announced in Oct 2021.
Who led N26's Series E round?
Third Point Ventures and Coatue led it, with Dragoneer Investment Group, Goldman Sachs and redalpine.
What was N26's valuation at the Series E round?
$9.00B post-money ($8.10B pre-money).