N26

What N26 does

N26 is a Berlin-headquartered, 100% mobile-first digital bank operating under a full BaFin banking license (HRB 271697 B) across 24 European markets and serving more than 8 million customers. Its core product is a tiered consumer and business current account family — Standard (free), Smart (€4.90/month), Go (€9.90/month) and Metal (€16.90/month), with parallel N26 Business tiers for freelancers, self-employed professionals and SMBs — delivered through self-serve in-app onboarding, biometric authentication and instant virtual card issuance. The platform is built on a cloud-native microservices architecture and uses AI/ML for fraud detection, AML monitoring, biometric KYC and an NLP chatbot, with customer deposits protected up to €100,000 under the German Deposit Protection Scheme.

N26 monetises through a diversified mix of subscription fees, Mastercard interchange, interest on personal loans (€1,000–€15,000 from 4.06% APR in Spain) and overdrafts (11.63%–13.4% p.a. across Spain and Austria), FX margin on Wise-powered transfers across 42 currencies, Allianz insurance distribution commission, Bitpanda-powered crypto trading fees, Upvest-custodied stock/ETF execution, Fidelity cash-fund management fees and — most recently — recurring eSIM mobile ARPU on Vodafone (Germany, May 2025) and Orange (Spain, June 2026) networks via 1GLOBAL. Its go-to-market is product-led growth and direct-to-consumer with viral friend referrals (cap €1,500) across 22 markets, supported by community-led content marketing, country-specific subdomains, and a forthcoming integration with the EPI/Wero instant-payments platform across Germany, France and the Netherlands from H2 2026.

In FY2024 N26 generated approximately €440 million in revenue and broke even, employing 1,600+ team members across Berlin, Barcelona and a new Madrid Centre of Excellence announced in March 2026. The business has navigated significant regulatory and operational stress: a €9.2 million BaFin fine in May 2024 for late AML filings, further BaFin sanctions in December 2025 (capital add-ons, Dutch mortgage ban, special monitor), the 2025 exits from the US, UK and Brazil markets, and a leadership transition in which both co-founders stepped down (Valentin Stalf to the Supervisory Board in August 2025, Maximilian Tayenthal at year-end 2025) before Mike Dargan, formerly UBS Group Chief Operations and Technology Officer, was appointed sole CEO effective April 2026 subject to BaFin approval.

Name

N26

Legal name

N26 Bank SE

Website

https://n26.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

N26 is a Berlin-based mobile-first digital bank operating under a full BaFin license across 24 European markets, serving 8+ million retail, freelancer and SMB customers with tiered accounts plus embedded investing, insurance, credit and eSIM mobile services.

Ownership category

akta.pro rank

Headquarters

HQ city

Berlin

HQ country

Germany

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Subscription (premium account fees): Recurring monthly fees for paid tiers: N26 Smart €4.90, N26 Go €9.90, N26 Metal €16.90, plus equivalent business plan tiers; N26 Standard remains free.
2. Interchange & card transaction economics: Revenue from Mastercard payment interchange on debit card spending and from card-related fees (ATM withdrawals beyond plan allowances, foreign transaction spreads on Standard).
3. Personal loans and overdraft interest: Interest income from launched credit products — personal loans (€1,000–€15,000, from 4.06% APR) and overdraft (e.g., 11.63% APR in Spain; up to €15,000 at 13.4% p.a. in Austria).
4. Telecom / eSIM service revenue: Recurring mobile plan fees from N26 mobile (Germany: 10GB/30GB/100GB plans on Vodafone; Spain: 150GB plan on Orange at €11.99/month with €9.99 promotional rate), often discounted for Metal customers.
5. Investment & brokerage fees: Securities execution and custody via Upvest; crypto trading powered by Bitpanda (white-label); ready-made funds via Fidelity — generating fees/spreads on transactions and underlying product costs.
6. Insurance distribution commission: Commission from distribution of Allianz Assistance travel, mobile electronics and other insurance products bundled into Go, Metal and Business Metal plans.
7. FX margin on international transfers: FX margin and transfer fees on cross-border payments (Wise-powered) supporting 42 currencies, with revenue share from the underlying Wise rails.

Pricing tiers

Go-to-market motion4 records

Distribution channels6 records

Marketing channels8 records

Core offering

N26 operates a fully licensed mobile-first digital bank delivering retail and small-business current accounts, debit cards, savings, brokerage (stocks, ETFs, ready-made funds), crypto trading, consumer credit (personal loans and overdraft), bundled insurance, and embedded eSIM mobile plans through a single smartphone app across 24 European markets. Revenue is generated through subscription fees on premium account tiers, interchange on Mastercard card spend, interest income on loans and overdrafts, FX margin on cross-border transfers, brokerage and crypto execution fees, telecom subscription revenue from N26 SIM plans, and insurance distribution commissions from Allianz Assistance.

Product overview

N26 operates as a single unified mobile-first banking platform with multiple account tiers, embedded investment and savings modules, and adjacent lifestyle services (telecom, insurance, lounge access), all accessed through one app. The core offering is built around four personal tiers (N26 Standard, N26 Smart, N26 Go, N26 Metal) and a parallel set of business accounts (N26 Business Standard/Smart/Go/Metal), supplemented by modules including Spaces sub-accounts, N26 Instant Savings, N26 Stocks and ETFs, N26 Crypto (via Bitpanda), Ready-made funds, and a Wise-powered international money transfer feature. Beyond core banking, N26 extends into adjacent verticals through N26 Insurance (Allianz Assistance), N26 SIM mobile plans (Germany via Vodafone, Spain via Orange/1GLOBAL) including N26 Travel eSIM, N26 Airport Lounge Access (DragonPass), credit products (N26 Personal Loans and overdraft in Spain, N26 Credit and N26 Installments in Austria), and a Refer-a-Friend program. Family banking is enabled by N26 Joint Account and N26 for Under 18s, while upcoming European Payments Initiative (Wero) integration will add instant payments. The platform is fully licensed by BaFin, operates in 24 European markets, and serves 8+ million customers from its Berlin headquarters.

Differentiator

Problem solved

Functional benefit

Brands

• N26 Standard: Free bank account tier with virtual Mastercard
• N26 Smart
• N26 Go
• N26 Metal
• N26 Business
• N26 for Under 18s
• N26 Crypto
• N26 Travel eSIM

Products and services

• N26 Standard Free retail current account and Mastercard debit card with no monthly fee, including free SEPA payments worldwide, instant push notifications, spending limits and N26 Insights budgeting. Targets digital-first individuals across 24 European markets.
• N26 Smart Premium personal account at €4.90/month offering up to 10 Spaces sub-accounts, free physical Mastercard, free instant SEPA transfers, customer support hotline and free stock and ETF trading. For consumers wanting more control over their money.
• N26 Go Travel-focused account at €9.90/month bundling free ATM withdrawals worldwide, Allianz travel insurance (flight/luggage delay, medical emergency, winter activities, pandemic) and fee-free payments worldwide. For frequent travelers and digital-first consumers.
• N26 Metal Top-tier personal account at €16.90/month with an 18-gram metal Mastercard, up to 8 free Eurozone ATM withdrawals, purchase protection, phone insurance, exclusive mobile phone insurance, dedicated N26 Metal support line and 1.5% p.a. Instant Savings interest.
• N26 Business Standard Free business account for freelancers and self-employed customers with a virtual Mastercard debit and basic expense management. Targeted at sole proprietors needing clear separation of business and personal finances.
• N26 Business Smart Premium business account with enhanced expense management controls, free physical Mastercard, free instant SEPA transfers and customer support hotline. For freelancers and SMBs needing more control over business spending.
• N26 Business Go Travel-focused business account with free ATM withdrawals worldwide and travel insurance coverage. For SMBs and freelancers who travel frequently for business.
• N26 Business Metal

Quantifiable outcome

• 8M+ customers across 24 European markets
• +6 more outcomes

Segments9 records

Ideal customer profiles7 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration18 records

AI capability8 records

Feature8 records

Partnerships

14 partnerships are on record, tiered core and minor.

• European Payments Initiative (EPI) / WerocoreStrategic or Co-development Partner · 8 December 2025N26 joined EPI and signed on to Wero (45-member European instant payment platform founded by BNP Paribas, Deutsche Bank and others) to deliver instant P2P payments in Germany, France and the Netherlands from H2 2026.
• WisecoreTechnology or IntegrationWise powers N26's in-app Foreign Currency Transfer feature across 42 currencies at the mid-market FX rate, with deep seamless integration so users do not need a separate Wise login. N26 also joined EPI alongside Wise to advance Wero instant payments in Europe.
• BitpandacoreOEM/ Whitelabel/ Licensing PartnerBitpanda (Bitpanda Asset Management GmbH, BaFin-licensed) powers N26 Crypto as a white-label solution enabling N26 customers to buy and sell 300+ crypto coins directly within the banking app.
• Upvest Securities GmbHcoreTechnology or IntegrationUpvest Securities GmbH (HRB 232445 B, Berlin) handles execution and securities custody for the N26 Broker service that powers stock, ETF and ready-made fund trading for eligible customers.
• Fidelity InternationalcoreOEM/ Whitelabel/ Licensing PartnerFidelity (RCS B88635) is the fund manager for N26's flexible cash fund — a UCITS money market fund carrying low risk rating 1/7, marketed with up to 2.25% p.a. variable net return as of 11/06/2026.
• MastercardcoreTechnology or IntegrationN26 issues Mastercard debit cards across Standard, Smart, Go, Metal and Business variants, leveraging Mastercard Identity Check, 3D Secure and worldwide acceptance with zero foreign transaction fees.
• Allianz Assistance (AWP P&C S.A. – Dutch Branch)coreOEM/ Whitelabel/ Licensing PartnerAllianz Assistance provides travel, medical, winter sports, pandemic and mobile electronics insurance bundled into N26 Go, N26 Metal, Business Go and Business Metal plans underwritten via Dutch branch licensed across the EEA.
• 1GLOBALcoreStrategic or Co-development Partner1GLOBAL is the connectivity specialist enabling N26 to become Germany's first digital bank to offer eSIM mobile plans (launched May 2025) and Spain's second telecom market (June 2026) on Vodafone and Orange 5G infrastructure.
• Vodafone GermanycoreTechnology or IntegrationVodafone provides the underlying German mobile network for N26 Mobile eSIM plans launched in May 2025 with 10GB/30GB/100GB tiers, unlimited calls/texts and Metal customer discounts.
• Orange SpaincoreTechnology or IntegrationOrange Spain provides the 5G network behind N26's Spain eSIM service launched June 2026, including 150GB plan at €11.99/month with 20GB EU/EEA roaming.
• ClarkminorStrategic or Co-development PartnerInsurtech firm Clark partnered with N26 to launch a digital insurance service, extending N26's ecosystem into insurance distribution beyond Allianz.
• BaFin (Bundesanstalt für Finanzdienstleistungsaufsicht)coreOthersBaFin is the responsible supervisory authority (Bonn and Frankfurt am Main) for N26 Bank SE under a full German banking license; the regulator has imposed sanctions including capital add-ons, restrictions on Dutch mortgage lending and appointment of a special monitor following the 2024 audit.
• Deutsche Bundesbank (Schlichtungsstelle)minorOthersGerman Central Bank's Dispute Resolution Body is the extrajudicial forum for disputes arising from N26 Bank SE's banking services under Sec. 14 (1) No. 1-5 UKlaG.
• Madrid / Barcelona Spanish operations hubscoreOthersN26's new Madrid Centre of Excellence and existing Barcelona tech center function as operational and engineering hubs scaling southern European presence.

Scale indicators11 records

Recent moves12 records

Expansion highlights6 records

Direct peers

• Revolut: Revolut is the largest European neobank, offering multi-currency accounts, IBANs, debit cards, fee-free FX, crypto, stocks, savings and now eSIM/telco across 35+ EEA markets. It competes head-to-head with N26 for the same digital-first European retail customer and is the most directly comparable peer.
• Monzo: Monzo is a UK-based mobile-first challenger bank offering current accounts, savings, lending, investments and P2P via a smartphone app. It is a direct peer in the European neobanking category and competes for the same digital-first retail and freelancer segments as N26.
• bunq: bunq is a Dutch mobile-first bank offering multi-currency accounts, IBANs, debit cards, savings and business banking across the EEA. It is a direct peer to N26 in continental European digital banking, with comparable freemium/premium tiering and SME focus.
• Starling Bank: Starling Bank is a UK challenger bank offering personal, joint and business current accounts, lending, savings and a Banking-as-a-Service platform. It is a direct peer in the European neobanking model and shares N26's product-led, app-first GTM motion and SME focus.

Emerging players

• Trade Republic: Trade Republic is a Berlin-headquartered mobile broker and savings platform operating across Europe. It overlaps with N26 in Germany specifically — both target digital-first German retail customers with mobile investing and savings products, and together the three players (with Revolut) hold only 0.4% of the Spanish market per PwC.
• Nubank: Nubank is Latin America's largest neobank with a full banking licence and 90M+ customers across Brazil, Mexico and Colombia. It is an emerging global neobanking peer alongside N26 — DataM Intelligence names N26, Nubank, Revolut, Monzo and SoFi as the top five strategic leaders in global neobanking.
• Klarna: Klarna is a Swedish fintech expanding from BNPL into a broader banking app with current accounts, cards and investments. It is an emerging peer in the European digital banking category and is named alongside N26 on the European FinTech Association board.

Others

• Wise: Wise is a UK-listed cross-border payments specialist that powers N26's international money transfer feature (42 currencies) under a deep partnership. It is an adjacent strategic partner and partial competitor in multi-currency accounts and FX, and a co-member of EPI/Wero with N26.
• Adyen: Adyen is a Dutch global payments platform providing card acquiring, POS and unified commerce infrastructure. It is an adjacent/ecosystem peer rather than a direct competitor, but is named on the European FinTech Association board alongside N26 and represents the broader European fintech competitive set.

Broad incumbents

• SoFi: SoFi is a US-listed full-stack digital bank offering deposits, lending, investing and insurance. It is named alongside N26 as a top-5 strategic global neobank leader by DataM Intelligence and shares the digital-first, full-spectrum banking thesis N26 is pursuing in Europe.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/n26
• YouTubeyoutube.com/playlist?list=PL6xV0DRwJladlPdnM4jenpiR_oJr-RlDL
• Facebookfacebook.com/N26
• LinkedInlinkedin.com/company/n26

Compliance11 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Subsidiaries3 records

Funding overview

Funding rounds11 records

Investors23 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about N26