Number26 Raises $40 Million for its Vision of the Future of Banking
With 200,000 clients, Number26 wants to become a major consumer-facing bank in Europe providing all the services you’d expect from your bank. And this funding round is an important milestone in order to reach this goal.
Battery Ventures, Robert Gentz, David Schneider and Rubin Ritteralso also participated in today’s round. Existing investors Peter Thiel’s Valar Ventures, Earlybird Ventures and Redalpine Ventures re-invested as well.
At heart, Number26 provides a free current account with a MasterCard. But compared to traditional brick-and-mortar banks, Number26 has a few nifty features.
For instance, the mobile app is a well-designed native app. It’s night and day compared to other banking apps.
When it comes to the card, you can customize it to your needs and the best feature is that you can pay or withdraw money everywhere around the world — Number26 won’t charge you with foreign transaction fees or crappy exchange rates.