N26 Bank

About N26 Bank

N26 was founded in Berlin in 2013 by Maximilian Tayenthal and Valentin Stalf. N26 launched its mobile banking app in 2015, targeting young Europeans. The bank obtained a full German banking license. N26 expanded to most EU countries and briefly entered the UK before Brexit. N26 attempted to enter the US market in 2019 but struggled against established competitors. The bank has over 8 million customers. N26 faced regulatory scrutiny in Germany over anti money laundering controls. BaFin, the German regulator, restricted N26s growth until compliance improved. N26 represents the European neobank model alongside Revolut and Monzo. The bank has focused on profitability over growth in recent years.