With N26, Revolut's German competition is also facing a new funding round.
This is reported by the Bloomberg agency, which specializes in financial news.
Accordingly, the Neobank is in talks with investors to collect several hundred million dollars.
This could increase the valuation of German fintech to around 10 billion dollars - around 8.5 billion euros.
The discussions about this are not yet concluded, the room is valued between 8 and 11 billion dollars.
This would make Neobank more valuable than Commerzbank, which is currently valued at around 7 billion euros.
Franz Nestler
Editor in business.
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N26 had only turned a financing round at the beginning of the corona pandemic in March 2020.
At that time, the start-up raised $ 100 million, albeit with a constant valuation of $ 3.5 billion.
The Berliners have now collected a total of 770 million dollars.
Neobank has some prominent supporters, and the list of financiers reads like a “Who's Who” of venture capitalists. This includes Insight Venture Partners, who have also co-financed Hello Fresh in this country. GIC, Singapore's sovereign wealth fund, is also involved, as is the Chinese Internet company Tencent, which is extremely successful in China with the WeChat communication platform. The insurance company Allianz has also invested, as has Peter Thiel, the co-founder of the payment service PayPal, or the billionaire Li Ka-Shing.