Peter Thiel's Valar Ventures led the round for the Berlin based startup, which is aimed at changing how individuals spend, save and send money. Today, the company only accepts German and Austrian customers, but 8,500 people have already signed up and 15,000 others are waiting for an invite.
Number26 launched in January in just Germany and Austria, where it already has 8,500 banking customers and a waiting list of 15,000. The company hopes to use the latest round to create a marketing campaign as well as eventually expanding to other countries. The intriguing pitch by Number26 is that it lets users create a banking account in minutes from their smartphone. That account issues a traditional credit card, along with a range of services like push notifications for transactions on the account, and other financial management tools. The account is free and also allows people to use the service in any country to pay without international fees or currency exchange fees.