Skip to main content
https://www.highperformancecpmgate.com/rgeesizw1?key=a9d7b2ab045c91688419e8e18a006621

Challenger bank N26 plans to expand to Brazil

Fintech startup N26 plans to launch its retail banking service in Brazil soon. The company announced the news on stage at MWC in Barcelona.

N26 has already announced that its next market would be the U.S. at some point during the first half of 2019. Brazil should launch after that.

Right now, N26 is available in 24 European countries, including all of the Eurozone, the U.K., Denmark, Norway, Poland, and Sweden, Liechtenstein and Iceland.

The company reached 2 million customers back in November 2018. N26 says that it now has 2.5 million customers. It has processed €20 billion in transaction volume since its creation in 2013, and customers currently hold over €1 billion in N26 accounts.

Eduardo Prota will be the General Manager for Brazil. He’s worked for Santander, Cielo and various startups. N26 will compete with another challenger bank in Brazil, Nubank. The startup already has 5 million customers and has raised hundreds of millions of dollars.

N26 also recently raised $300 million at a $2.7 billion valuation. It’s clear that the company doesn’t want to stop at Europe. Let’s see if N26 can reproduce the same success on another continent.

Update: An earlier version of this post said that N26 would launch in Brazil in 2019. The company hasn’t given a clear timeframe. The post has been updated to reflect that.

Comments

Post a Comment

Popular posts from this blog

Uber co-founder Garrett Camp steps back from board director role

Uber co-founder Garrett Camp is relinquishing his role as a board director and switching to board observer — where he says he’ll focus on product strategy for the ride hailing giant. Camp made the announcement in a short Medium post in which he writes of his decade at Uber: “I’ve learned a lot, and realized that I’m most helpful when focused on product strategy & design, and this is where I’d like to focus going forward.” “I will continue to work with Dara [Khosrowshahi, Uber CEO] and the product and technology leadership teams to brainstorm new ideas, iterate on plans and designs, and continue to innovate at scale,” he adds. “We have a strong and diverse team in place, and I’m confident everyone will navigate well during these turbulent times.” The Canadian billionaire entrepreneur signs off by saying he’s looking forward to helping Uber “brainstorm the next big idea”. Camp hasn’t been short of ideas over his career in tech. He’s the co-founder of the web 2.0 recommendatio
Post a Comment
Read more

Drone crash near kids leads Swiss Post and Matternet to suspend autonomous deliveries

A serious crash by a delivery drone in Switzerland have grounded the fleet and put a partnership on ice. Within a stone’s throw of a school, the incident raised grim possibilities for the possibilities of catastrophic failure of payload-bearing autonomous aerial vehicles. The drones were operated by Matternet as part of a partnership with the Swiss Post (i.e. the postal service), which was using the craft to dispatch lab samples from one medical center for priority cases. As far as potential applications of drone delivery, it’s a home run — but twice now the craft have crashed, first with a soft landing and the second time a very hard one. The first incident, in January, was the result of a GPS hardware error; the drone entered a planned failback state and deployed its emergency parachute, falling slowly to the ground. Measures were taken to improve the GPS systems. The second failure in May, however, led to the drone attempting to deploy its parachute again, only to sever the line
Post a Comment
Read more

ProtonMail logged IP address of French activist after order by Swiss authorities

ProtonMail , a hosted email service with a focus on end-to-end encrypted communications, has been facing criticism after a police report showed that French authorities managed to obtain the IP address of a French activist who was using the online service. The company has communicated widely about the incident, stating that it doesn’t log IP addresses by default and it only complies with local regulation — in that case Swiss law. While ProtonMail didn’t cooperate with French authorities, French police sent a request to Swiss police via Europol to force the company to obtain the IP address of one of its users. For the past year, a group of people have taken over a handful of commercial premises and apartments near Place Sainte Marthe in Paris. They want to fight against gentrification, real estate speculation, Airbnb and high-end restaurants. While it started as a local conflict, it quickly became a symbolic campaign. They attracted newspaper headlines when they started occupying prem
Post a Comment
Read more