N26 hits huge customer milestone with US launch only “weeks” away

By Oliver Smith on 13th June 2019

Challenger Banks

The German digital bank now has 3.5m customers, and growth is accelerating.

N26 hits huge customer milestone with US launch only “weeks” away
Image source: Maximilian Tayenthal and Valentin Stalf/N26

Adding a million customers in just four months is no small feat, but that’s exactly what German digital bank N26 has just done.

After announcing its 2.5m customer milestone in February, this morning CEO Valentin Stalf updated that figure to 3.5m.

“Our very high recommendation rate of around 50 per cent shows that customers love our product and appreciate that we approach banking differently”, states Valentin Stalf, co-founder and CEO of N26.

The updated figures place N26 far ahead of Monzo at 1.7m customers and fast-approaching Revolut at a reported 5m customers.

N26 also revealed it’s monthly transaction volume is now over €2bn per month split between 16m transactions across its 24 European markets.

Cofounder Maximilian Tayenthal also teased the company’s long-awaited US launch is happening in the “coming weeks”.

“Our US launch marks the next logical step for N26 to become a global bank, as many more people around the world are looking for a simple and hassle-free banking experience.”

Interestingly, the company said it now employs 1,300 employees across its headquarters in Berlin, and TechHubs in Barcelona and Vienna and offices in New York and Sao Paulo, but made no mention of London where it staged a high-profile media campaign as part of its UK launch last October.

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Companies in this Article:

Revolut
Monzo
N26

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