HomeGermany-StartupsBerlin-based mobile banking startup N26​ ​just reached the milestone of​ ​500.000 customers

Berlin-based mobile banking startup N26​ ​just reached the milestone of​ ​500.000 customers

The​ ​Berlin-based mobile bank N26​ ​has just​ ​reached​ ​the​ ​500.000​ ​customers​ ​mark.​ ​In​ ​the​ ​last​ ​5 months​ ​alone,​ ​200.000​ ​customers​ ​have​ ​chosen​ ​to​ ​make​ ​N26​ ​their​ ​bank.​ ​According to the fintech company, this​ ​growth​ ​is​ ​primarily​ ​based on​ ​referrals​ ​from​ ​existing​ ​customers​ ​and​​ ​underlines​ ​the​ ​importance​ ​of​ ​a​ ​positive experience​ ​with​ ​N26.​ ​On​ ​average,​ ​N26​ ​grows​ ​by​ ​1.500​ ​customers​ ​a​ ​day.

Catering to its strategy of offering its customers the best digitized products on one platform, N26 has consistently expanded the product range surrounding its bank account in the past months. The mobile bank launched a business account designed for freelancers and the self-employed in April, a savings product in cooperation with Raisin in May and an insurance product with Clark in June. The latest developments, which followed in July of this year, include the integration of auxmoney into the existing credit product, and the first native app integration of Mastercard SecureCode for more security in mobile banking and when making online payments. The goal is also to expand the range of products available in international markets. It has already been announced that N26 is supporting Apple Pay in Italy, Spain and France later this year.

Valentin Stalf, the founder & CEO of N26, stated: “The key driver for our growth is our customers who recommend our product. This results in significantly lower customer acquisition costs. This exponential growth validates our goal to become the leading mobile bank for digital customers throughout Europe in the coming years.”

In January 2016, N26 celebrated its 100.000th customer. Since then, N26 has more than quadrupled its rate of growth. The transaction volume has surpassed over €5 billion. N26 customers are made up of 170 different nationalities and use their cards in 207 different countries for transactions in 143 currencies. Today, 40% of the customers are over 35 years old. More interesting facts can be found in the infographic below:


Thomas Ohr
Thomas Ohr
Thomas Ohr is the "Editor in Chief" of EU-Startups.com and started the blog in October 2010. He is excited about Europe's future, passionate about new business ideas and lives in Barcelona (Spain).

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