If you’re a new player in the market and you want to make a statement about your potential, then you can’t make one much stronger than that of N26.
The app-only bank, which also offers insurance, has sprung on to the scene announcing earlier today that, in little over a year, it has secured 300,000 customers.
The number has shot up from 100,000 in January 2016 with founder and CEO Valentin Stalf declaring that the company could have millions of customers imminently.
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“January and February 2017 were the strongest months in terms of customer growth in our company’s history,” he said. “We are on track to grow to a couple of million customers over the next few years.”
N26 is Berlin-based but offers its banking service in 17 European countries with a host of features, including the ability to take out as much as 25,000 euros from your phone.
With 59% of its customers aged in the Millennial 18-34 generation, the company believes that by tying on additional financial services like insurance to its banking offering, it can become a go-to service for the generation. Indeed the firm has already partnered with
Allianz to offer insurance products.
Oh and if you thought it doesn’t matter what a firm is doing in other countries as long as it doesn’t come here… N26 will launch in the UK later this year.
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