Willkie advises Insight on the deal
N26, a global mobile bank based in Germany, announced a $300 million Series D funding round led by Willkie client Insight Venture Partners, valuing N26 at $2.7 billion. The round also includes participation from GIC, Singapore’s sovereign wealth fund, and several existing investors. The $300 million funding represents the largest private equity financing round for a fintech company in Europe in recent years.
N26 currently operates in 24 markets across Europe, and has more than tripled its customer base in the last 12 months to more than 2.3 million customers. N26 will use the proceeds to drive global expansion, starting with the US launch of its mobile banking product in the first half of 2019. Customers currently hold over €1 billion in N26 accounts.
Insight Venture Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies. Insight currently has over $20 billion of assets under management and has cumulatively invested in more than 300 companies.
The Willkie deal team was led by partners Gordon Caplan (Picture), Stefan Jörgens, Johannes Eckhardt and Miriam Steets.
Law Firms: Willkie Farr & Gallagher;
Clients: Insight Venture Partners;