N26 Revenue and Usage Statistics (2024)

David Curry

Updated: October 7, 2024

N26 is one of a several neobanks that launched in the mid-2010s, which were aimed at breaking up the monotony of banking with well zero-fee services and well designed mobile apps.

Founded in Munich as one of the many startups incubated by Rocket Internet, N26 originally operated as the frontend interface which was backed by Wirecard. In 2016, it received a banking license from the financial regulator in Germany to operate on its own.

Since becoming a bank, N26 has added other services, such as a basic current account, savings and insurance.

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It launched in the United States in 2019, partnering with Axos Bank to serve as the provider of services and insurer, but in November 2021 it announced plans to withdraw from the country. N26 had around 500,000 customers in the US at the time of announcement.

N26 also withdrew from the UK in 2020, citing an inability to operate in the country due to Brexit. N26 could have applied for a UK banking license, but other European neobanks, such as Revolut, have struggled in the past.

N26 sees its future as the dominant neobank in Europe, competing with Revolut and Monzo for the title. It has eight million customers across 24 countries, with its largest markets being Germany, France and Italy.

We have collected data and statistics on N26. Read on below to find out more.

N26 Key Statistics

N26 generated €236 million revenue in 2022, a 29% year-on-year increase
Four million people use N26 across 24 countries
N26 was most recently valued at $6 billion, when Allianz sold it stake for $3 billion less than it valued in 2021

Finance App Report 2024

Want to learn more about the finance app industry? In our Finance App report, we cover financials, forecasts, usage, downloads, demographics and benchmarking data.

N26 Overview

Title	Title 2
Launch date	February 2013
HQ	Berlin, Germany
People	Valentin Stalf (co-CEO, co-founder), Maximillian Tayenthal (co-CEO, co-founder)
Business type	Private
Industry	Mobile banking

N26 Revenue

N26 made an estimated €236 million revenue in 2022, a 29% increase on the previous year.

N26 revenue 2018 to 2022 (€mm)

Year	Revenue (€mm)
2017	33
2018	49
2019	72
2020	120
2021	182
2022	236

Source: Company data

N26 Users

N26 announced it had reached four million active customers at the end of 2022. It has about nine million registered accounts.

N26 users 2016 to 2022 (mm)

Year	Users (mm)
2016	0.1
2017	0.5
2018	1
2019	2.3
2020	3.2
2021	3.7
2022	4

Source: Company data

N26 Transaction Volume

N26 generated €110 billion annual transaction volume in 2022, a 39% increase year-on-year.

N26 transaction volume 2017 to 2022 (€bn)

Year	Transaction volume (€bn)
2017	5.8
2018	22
2019	32
2020	50
2021	79
2022	110

Source: Company data

N26 Valuation

N26 was valued at $6 billion in 2023 by Allianz, which sold its stake for $3 billion less than it valued the company in 2021.

N26 valuation 2019 to 2023 ($bn)

Year	Valuation ($bn)
2019	2.7
2020	3.5
2021	9
2023	6

Source: Pitchbook

N26 vs Competitors: Users

Want to learn more? Read our mobile banking sector profile

N26 FAQ

How many countries is N26 active in?

N26 is active in 24 countries, which includes most of Europe

Where is N26 most popular?

France and Germany are the top countries by downloads, followed by Italy (Airnow)

Is N26 available in the UK?

N26 pulled out of the UK after one year, citing Brexit issues (Sifted)

Is N26 available in the US?

N26 also recently shut down operations in the US and said the move aimed to focus more on the core Europe business (CNBC)