N26
Company History
N26 History: Founding, Growth & Key Milestones
Founded 2013 in Berlin, Germany
When was N26 founded?
N26 was founded in 2013 in Berlin, Germany by Valentin Stalf and Maximilian Tayenthal, making it 13 years old.
- Founded
- 2013
- Founding place
- Berlin, Germany
- Founders
- Valentin Stalf and Maximilian Tayenthal
- Headquarters today
- Berlin, Germany
- Milestones documented
- 11 (2013–2026)
- Current CEO
- Mike Dargan
| Year | Event |
|---|---|
| 2013 | Valentin Stalf and Maximilian Tayenthal found the company in Berlin as Papayer |
| 2015 | Launches as Number26 in Germany and Austria with accounts issued by Wirecard Bank |
| 2016 | Receives its own German banking license and rebrands as N26 |
| 2018 | Raises $160 million Series C led by Tencent and Allianz X |
| 2019 | Series D led by Insight Partners values N26 at $3 |
| 2020 | Closes UK accounts after Brexit ends EU passporting |
| 2021 | Raises $900 million Series E at about $9 billion led by Third Point Ventures and Coatue |
| 2022 | Exits the US market and launches crypto trading with Bitpanda |
| 2024 | BaFin lifts the growth cap in June |
| 2025 | First full-year net profit |
| 2026 | Former UBS executive Mike Dargan becomes CEO in April |
- Where was N26 founded?
- N26 was founded in Berlin, Germany in 2013. wikidata.org
- Who founded N26?
- N26 was founded by Valentin Stalf and Maximilian Tayenthal.
- When did N26 start?
- N26 was founded in 2013.
- How old is N26?
- N26 is 13 years old as of 2026.
Founding Story
Valentin Stalf and Maximilian Tayenthal started the company in 2013 under the name Papayer, initially aimed at a prepaid card for young people. They relaunched as Number26 in 2015 with an account issued through partner Wirecard Bank, secured their own German banking license in 2016, and rebranded as N26.
Founders
Valentin Stalf
Valentin Stalf co-founded N26 in 2013 with Maximilian Tayenthal and ran it as CEO and later co-CEO for about twelve years, leading product, brand and fundraising, including the $900 million Series E in 2021. He stepped down as co-CEO in 2025 amid regulatory pressure and remains a shareholder. Stalf was born on October 4, 1985 in Vienna. Valentin Stalf was born in 1985.
Maximilian Tayenthal
Maximilian Tayenthal co-founded N26 and oversaw finance, regulatory, legal and operations, including securing the 2016 banking license and the remediation under BaFin's 2021-2024 growth cap. He left his co-CEO role at the end of 2025 ahead of Mike Dargan's arrival and remains a shareholder. (Exact birth year remains publicly undisclosed).
Key Milestones
Valentin Stalf and Maximilian Tayenthal found the company in Berlin as Papayer
Valentin Stalf and Maximilian Tayenthal found the company in Berlin as Papayer.
Source: en.wikipedia.orgLaunches as Number26 in Germany and Austria with accounts issued by Wirecard Bank
Launches as Number26 in Germany and Austria with accounts issued by Wirecard Bank.
Source: en.wikipedia.orgReceives its own German banking license and rebrands as N26
Receives its own German banking license and rebrands as N26; Valar Ventures leads a $40 million Series B.
Source: en.wikipedia.orgRaises $160 million Series C led by Tencent and Allianz X
Raises $160 million Series C led by Tencent and Allianz X; launches in the UK.
Source: en.wikipedia.orgSeries D led by Insight Partners values N26 at $3
Series D led by Insight Partners values N26 at $3.5 billion; launches in the US.
Source: en.wikipedia.orgCloses UK accounts after Brexit ends EU passporting
Closes UK accounts after Brexit ends EU passporting.
Source: en.wikipedia.orgRaises $900 million Series E at about $9 billion led by Third Point Ventures and Coatue
Raises $900 million Series E at about $9 billion led by Third Point Ventures and Coatue; BaFin caps new customers at about 50,000 a month.
Source: en.wikipedia.orgExits the US market and launches crypto trading with Bitpanda
Exits the US market and launches crypto trading with Bitpanda.
Source: en.wikipedia.orgBaFin lifts the growth cap in June
BaFin lifts the growth cap in June; N26 reports its first quarterly profit in Q3.
Source: en.wikipedia.orgFirst full-year net profit
First full-year net profit (~$1.81M (€1.6M)) on ~$567M (€501.6M) revenue; both co-founders step back from executive roles.
Source: n26.comFormer UBS executive Mike Dargan becomes CEO in April
Former UBS executive Mike Dargan becomes CEO in April; new COO, CTO and CGMO appointed.
Source: n26.comKeep researching N26
N26 Company History FAQ
What are the major historical milestones in N26's evolution since 2013?
Key milestones: founding in 2013, launch as Number26 in 2015, own German banking license in 2016, N26 Metal in 2017, UK exit in 2020, a $900M Series E in 2021, the BaFin onboarding cap from 2021 to June 2024, the first full-year profit in 2025, and Mike Dargan taking over as CEO in April 2026.
When did N26 launch its well-known transparent Mastercard debit card?
In 2015, N26 introduced its signature transparent Mastercard debit card with visible internal antenna wiring, creating an immediate design sensation across European fintech.
How did N26 transition from a partner bank to an authorized European bank in 2016?
In July 2016, the European Central Bank granted N26 Bank GmbH a full banking license; over the subsequent months, N26 migrated hundreds of thousands of users from Wirecard to its own proprietary banking platform.
When did N26 introduce its metal card and premium subscription tiers?
N26 launched N26 Black (later N26 You) in 2016 and debuted N26 Metal with its 18g stainless steel card in late 2017, pioneering paid lifestyle banking tiers in Continental Europe.
Why did N26 exit the United Kingdom market in 2020?
Following the UK's formal exit from the European Union (Brexit), European banking passporting rights ended, prompting N26 to close its UK accounts in April 2020 and refocus entirely on Continental Europe.
What legal form does N26 have today?
N26 now operates as N26 SE, the holding company, and N26 Bank SE, the licensed credit institution, both European companies (Societas Europaea) headquartered in Berlin and supervised by BaFin.
When did BaFin lift its customer onboarding growth cap on N26?
BaFin lifted the onboarding cap in June 2024, roughly 32 months after it limited N26 to about 50,000 new customers a month in late 2021 over anti-money-laundering weaknesses.
What is N26's current market footprint and future roadmap across Europe?
N26 operates in 24 European markets with 5.6 million revenue-relevant customers (end of 2025) and about 1,600 employees. Its 2026 focus is multi-product adoption, governance and profitable growth under CEO Mike Dargan.
How was N26 originally founded in Berlin in 2013?
N26 was founded in 2013 in Berlin by Austrian entrepreneurs Valentin Stalf and Maximilian Tayenthal under the working name "Papayer"—originally intended as a teen financial allowance card. In early 2015, they launched "Number26" with an elegant translucent Mastercard, allowing European smartphone users to open a fully functional checking account in under eight minutes with zero paperwork.
How did N26 overcome the strict BaFin regulatory growth caps imposed in 2021?
In late 2021, German financial regulator BaFin capped N26's new customer growth to 50,000 customers per month and installed a special monitor due to deficiencies in anti-money laundering (AML) controls and customer verification. N26 invested over €100 million into compliance, AI fraud detection, and governance, leading BaFin to formally lift all growth restrictions in mid-2024.
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