Fintech startups are hot and it is good to see that some great innovative projects disrupting the finance industry get funded. The Berlin based fintech startup NUMBER26, that offers “the bank account of the future” just completed series A with 10 mln EUR funding.
The US investor Peter Thiel’s VC fund Valar Ventures leads the round. The Swiss entrepreneur Daniel S. Aegerter is also joining this round. He led his startup TRADEX to one of the largest software exits of all time ($ 5.6 bn). The existing investors Earlybird and Redalpine complete the round. Valar expands its portfolio with only its second Fintech investment in Europe. After having invested in the London based Transferwise, Valar Ventures further emphasizes their dedication for the disruption of the traditional financial industry.
The funding will enable NUMBER26 to grow and expand. NUMBER26 offers Europe’s most modern bank account with features such as opening an account within only 8 minutes, individual security settings, convenient financial management tools and push notifications for every transaction. NUMBER26 was launched at the end of January this year in Germany and Austria and already has more than 8,500 banking clients with more than 15,000 on the waiting list.
“Winning Valar Ventures’ backing is a huge step for us. Their experience with PayPal, Transferwise and Xero has already set an example for the disruption of the outdated models in financial technology. Valar’s experience and networks will help us build an even greater company”, Valentin Stalf, Co-Founder and CEO of NUMBER26, commented on the deal.
NUMBER26 currently employs a team of 30. Since January 2015, NUMBER26 is available in Austria and Germany. Due to the high number of pre-signups, NUMBER26 is available by invitation only.