Germany based consumer challenger bank raised $100m in an extension of its Series D round at a valuation of $3.5b.
You may have noticed that the valuation didn’t go up this time. “I’d say it’s a very good valuation,” co-founder and CEO Valentin Stalf told me. While N26 started the fundraising process before the economic downturn, the company thinks it’s already quite an achievement that the valuation didn’t go down. When the crisis arrived, it made even more sense to go ahead and extend the Series D round. Stalf called it an “opportunity without a lot of effort.” “For me, it was a super clear decision. I would have loved to stay in the UK,” Stalf said. “But there are more attractive markets out there like the U.S. and Brazil,” he added.