Digital bank N26 to set up shop in Barcelona

Barcelona is establishing itself as a major technology and innovation hub.

Another major fintech firm is setting up a tech centre in Barcelona. N26, a global leader in digital banking, headquartered in Berlin, will soon open an office in the city.

The fintech firm plans to hire more than 100 engineers and product experts in Barcelona by the end of 2019, with the new office set to open September 1.

N26 already has a presence in Berlin and New York, employing more than 430 people globally. The banking challenger recently passed a million customers, spread across 17 European markets. It is not yet live in the UK or US but plans to launch in both markets this year.

“Our teams are the key to our success. Opening a new location in Barcelona will help us to continue our growth as a world-class global technology employer by reaching more talent and offering more international opportunities for a highly diverse workforce,” said Valentin Stalf, CEO of N26, in a statement.

N26 is not the only major fintech firm to have set up a power station in Barcelona. The world’s original P2P lending platform Zopa established a presence in the city in June 2017, primarily to power its bank-build.

N26 also referenced Barcelona’s ‘high quality of living’ and the fact that Spain is one of its core markets as decisive in choosing the location.

Francisco Sierra, general manager of Spain at N26, commented: “Barcelona is one of N26’s fastest growing cities, and it is important for us to stay close to our customers. The city shares the same international and entrepreneurial spirit as N26, making it a natural home for our first European team outside of Berlin.”