{"id":42051,"date":"2018-03-23T01:44:07","date_gmt":"2018-03-22T23:44:07","guid":{"rendered":"https:\/\/newserver.fyb.de\/160-million-for-smartphone-bank-n26\/"},"modified":"2018-03-23T01:44:07","modified_gmt":"2018-03-22T23:44:07","slug":"160-million-for-smartphone-bank-n26","status":"publish","type":"post","link":"https:\/\/www.fyb.de\/en\/160-million-for-smartphone-bank-n26\/","title":{"rendered":"$160 million for smartphone bank&nbsp;N26"},"content":{"rendered":"<p>PayPal foun\u00adder <strong>Peter Thiel<\/strong> \u2018s venture capi\u00adtal fund <strong>Valar Ventures<\/strong> (Valar) has inves\u00adted in <strong>smart\u00adphone bank N26<\/strong> for the second time. The finan\u00adcing invol\u00adves an amount in the double-digit milli\u00adons. Valar was again advi\u00adsed by the inter\u00adna\u00adtio\u00adnal law firm <strong>Taylor Wessing<\/strong>. The first invest\u00adment took place when N26 was laun\u00adched in 2015. The current tran\u00adsac\u00adtion, tota\u00adling 160 million euros, is the largest equity injec\u00adtion a local fintech has recei\u00adved to&nbsp;date.<\/p>\n<p>With the funds gained, the mobile bank plans to conquer the U.S. and U.K. markets this year and further deve\u00adlop exis\u00adting products. In addi\u00adtion to Valar, the insu\u00adrance group Alli\u00adanz and the Chinese Inter\u00adnet company Tencent, among others, have parti\u00adci\u00adpa\u00adted in the mega-investment.<\/p>\n<p>Valar Ventures is a US-based venture capi\u00adtal firm whose foun\u00adders include Peter Thiel. For the current invest\u00adment in N26, Valar was compre\u00adhen\u00adsi\u00advely advi\u00adsed by Frank\u00adfurt-based Taylor Wessing part\u00adner Volker Baas, speci\u00adfi\u00adcally in the area of compli\u00adance with the German Banking Act Compli\u00adance as well as other regu\u00adla\u00adtory issues. Baas specia\u00adli\u00adzes in banking, banking regu\u00adla\u00adtory and invest\u00adment law and has many years of expe\u00adri\u00adence in advi\u00adsing dome\u00adstic and foreign clients in the German legal environment.<\/p>\n<p><strong>N26 is one of the few German fintechs that has a banking license and can ther\u00ade\u00adfore fully compete with tradi\u00adtio\u00adnal credit insti\u00adtu\u00adti\u00adons.<\/strong>  N26\u2019s custo\u00admer base has grown to 850,000 since its foun\u00adding in 2015. This is expec\u00adted to grow to five million users by the end of&nbsp;2020.<\/p>\n<p><strong>Legal advi\u00adsors Valar Ventures: Taylor Wessing<\/strong><br>\nLead Part\u00adner Dr. Volker Baas (Part\u00adner, Banking &amp; Finance, Frank\u00adfurt); Till Chris\u00adto\u00adpher Otto (Profes\u00adsio\u00adnal Support Lawyer, Banking &amp; Finance, Frankfurt)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PayPal foun\u00adder Peter Thiel \u2018s venture capi\u00adtal fund Valar Ventures (Valar) has inves\u00adted in smart\u00adphone bank N26 for the second time. The finan\u00adcing invol\u00adves an amount in the double-digit milli\u00adons. Valar was again advi\u00adsed by the inter\u00adna\u00adtio\u00adnal law firm Taylor Wessing. The first invest\u00adment took place when N26 was laun\u00adched in 2015. The current transaction,&nbsp;[\u2026]<\/p>\n","protected":false},"author":2,"featured_media":42060,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wp_typography_post_enhancements_disabled":false,"footnotes":""},"categories":[886,1364,1366],"tags":[],"class_list":["post-42051","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general-en","category-featured-en","category-news-en","news-category-venture-capital-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>$160 million for smartphone bank N26 - FYB Financial Yearbook<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.fyb.de\/en\/160-million-for-smartphone-bank-n26\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"$160 million for smartphone bank N26 - FYB Financial Yearbook\" \/>\n<meta property=\"og:description\" content=\"PayPal foun\u00adder Peter Thiel \u2018s venture capi\u00adtal fund Valar Ventures (Valar) has inves\u00adted in smart\u00adphone bank N26 for the second time. 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