Berlin based banking startup Number26 just raised €10 million

NUMBER26 offers the smartphone bank account and is building the bank of the future the Berlin based startup offers bank accounts specifically adjusted to the needs of smartphone users and was founded in February 2013 by Valentin Stalf and Maximilian Tayenthal. NUMBER26 already has more than 8,500 banking clients with more than 15,000 on the waiting list and offers Europe’s most modern bank account with features such as opening an account in 8 minutes, individual security settings, convenient financial management tools and push notifications for every transaction.

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Valentin Stalf and Maximilian Tayenthal

“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 Their experience with PayPal, Transferwise and Xero has already set an example for the disruption of the outdated models in financial technology.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.” Said Valentin Stalf, Founder & CEO NUMBER26

The company currently employs a team of 30 and is available in Austria and Germany, due to the high number of pre-signups NUMBER26 is available by invitation only and Peter Thiel’s VC fund Valar Ventures believes in this vision and just led the €10 million Series A investment round with The Swiss entrepreneur Daniel S. Aegerter who also joined,  Mr Aegerter who led his startup TRADEX to one of the largest software exits of all time ($ 5.6 bn).

The existing investors Earlybird and Redalpine completed the round. Valar expanded 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.

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Andrew McCormack, Partner Valar Ventures

“We are delighted to support Valentin and Maximilian in changing banking. NUMBER26 already offers the most modern bank account for smartphones. We see huge potential for companies who are pursuing innovative paths in banking.”

“The recent funding will enable NUMBER26 to make modern banking accessible to many more customers who are frustrated with the traditional banks and their expensive banking products.” Said Andrew McCormack.

 

Valar Ventures is a globally-oriented venture fund founded by Peter Thiel, Andrew McCormack, and James Fitzgerald. Based in New York City, Valar believes that an increasing number of transformative technology companies are being started outside of Silicon Valley, and that the founders of those companies will benefit from having a partner that understands their unique challenges and opportunities.

Author: Jason Williams

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