Wednesday 20 June 2018

New mobile banking firm in search of Spanish talent

Barcelona will be N26’s third base
Barcelona will be N26’s third base

Boris Groendahl

German mobile banking startup N26 is opening an office in Barcelona as it seeks to hire more than 100 experts in technology and product design in the Spanish city popular with technology companies.

Barcelona will be N26's third base after Berlin and New York, where it currently employs around 430, the company said in a statement.

The office will open on September 1, and N26 plans to complete staffing up by the end of next year.

The city's "excellent ecosystem for technology and entrepreneurship" will allow N26 to "get new talent to support growth," it added.

While the Barcelona office will be focused on technology and product development, it will also "deepen the ties" to Spain as one of N26's core markets, according to the statement.

N26 has more than a million customers in countries including Germany, Austria, France and Italy, and plans to start in the US and UK this year.

N26 raised $160m (€135m) in March from investors led by German insurer Allianz and China's Tencent Holdings, bringing its total funding to $215m (€182m).

It didn't disclose the implicit valuation at the time. (Bloomberg)

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