Brex vs N26: Founders, CEOs and History
Brex was founded in 2017 by Pedro Franceschi, Henrique Dubugras and is led by Pedro Franceschi. N26 was founded in 2013 by Valentin Stalf, Maximilian Tayenthal and is led by Mike Dargan.
Company facts
Founders
Brex
Pedro Franceschi
Franceschi enrolled at Stanford in 2016 and left with Dubugras for Y Combinator's Winter 2017 batch, where the pair dropped a virtual reality idea three weeks in and started Brex.
Henrique Dubugras
Dubugras enrolled at Stanford in 2016 and left for Y Combinator in early 2017, co-founding Brex that January.
N26
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.
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.
CEOs and their tenures
Brex
- Pedro Franceschi2017–present
Co-Founder and Chief Executive Officer
Co-CEO from January 2017, running product, engineering and internal operations, and sole CEO since June 12, 2024.
Source - Henrique Dubugras2017–2024
Co-Founder; Co-CEO 2017 to 2024, then Chairman
External co-CEO responsible for fundraising, banking partners, regulators and selling to the largest customers. Raised the rounds that took Brex to a $12.3 billion valuation in 2021, and became chairman of the board when the co-CEO model ended in June 2024.
Source - Ben Gammell2018–present
Chief Financial Officer and President
Joined in early 2018 as VP of operations and served as chief of staff to the CEO before becoming CFO. Also oversees legal, business development, systems and data, and was named as part of the leadership team staying on under Capital One.
Source
N26
- Valentin Stalf2013–2025
Co-founder & Co-CEO
Led N26 from founding until stepping down as co-CEO in 2025.
Source - Maximilian Tayenthal2013–2025
Co-founder & Co-CEO
As Co-Founder and Co-CEO, he manages the massive venture capital funding rounds and internal regulatory compliance structure of the neobank.
Source - Arnd Schwierholz2023–present
Chief Financial Officer (interim co-CEO late 2025-April 2026)
As CFO, he manages the bank's liquidity and is aggressively working to resolve the severe anti-money laundering (AML) compliance issues that led to growth caps by BaFin.
Source - Mike Dargan2026–present
Chief Executive Officer
As a senior executive, he aims to professionalize the startup's chaotic internal systems, bringing them up to the standards required by the European Central Bank.
Source - Aytac Aydin2026–present
Chief Operating Officer
They lead the core software engineering teams that maintain the high reliability and sleek user interface that forms N26's primary competitive advantage against legacy banks.
Source - Marcin Pakulnicki2026–present
Chief Technology Officer
They lead the core software engineering teams that maintain the high reliability and sleek user interface that forms N26's primary competitive advantage against legacy banks.
Source
Timeline: Brex and N26 side by side
2013N26
Valentin Stalf and Maximilian Tayenthal found the company in Berlin as Papayer.
2015N26
Launches as Number26 in Germany and Austria with accounts issued by Wirecard Bank.
2016N26
Receives its own German banking license and rebrands as N26; Valar Ventures leads a $40 million Series B.
2017Brex
Founded during Y Combinator
Henrique Dubugras and Pedro Franceschi founded Brex on January 3, 2017, after dropping a virtual reality idea three weeks into Y Combinator's Winter 2017 batch. Ribbit Capital led a $7 million first round.
2018Brex
Launch, $50M Series B and $1.1B valuation
Brex raised a $50 million Series B in June 2018 from Y Combinator Continuity, Ribbit Capital, Peter Thiel and Max Levchin, passed 1,000 customers by August and reached a $1.1 billion valuation with a $125 million Series C in October.
2018N26
Raises $160 million Series C led by Tencent and Allianz X; launches in the UK.
2019Brex
$2.6B valuation led by Kleiner Perkins
A $100 million Series C-2 led by Kleiner Perkins in June 2019 valued Brex at $2.6 billion. Brex also launched Brex Cash, now the Brex Business Account, that year.
2019N26
Series D led by Insight Partners values N26 at $3.5 billion; launches in the US.
2020Brex
Three acqui-hires and a $150M extension
Brex bought Neji, Compose Labs and Landria in March 2020, adding 12 people, and raised a $150 million Series C extension in May as a cushion against a long recession.
2020N26
Closes UK accounts after Brexit ends EU passporting.
2021Brex
Bank charter bid, Weav deal and $12.3B valuation
Brex applied for a Utah industrial bank charter in February and withdrew it in August, raised $425 million at $7.4 billion in April, bought Weav for $50 million in August, went headquarterless, and agreed a $300 million round at $12.3 billion in October.
2021N26
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.
2022Brex
Empower launch, Pry deal and small business exit
Brex launched Brex Empower in April with DoorDash as a customer, bought Pry Financials for $90 million, left the small business market in June and laid off 136 people in October.
2022N26
Exits the US market and launches crypto trading with Bitpanda.
2023Brex
Silicon Valley Bank deposits
Brex took in billions of dollars of deposits from Silicon Valley Bank customers on March 9, 2023, the day before the bank collapsed.
2024Brex
20% layoff and end of the co-CEO model
Brex cut 282 jobs on January 23, 2024, ranked fourth on CNBC's Disruptor 50 list in May, and on June 12 made Franceschi sole CEO, with Dubugras becoming chairman.
2024N26
BaFin lifts the growth cap in June; N26 reports its first quarterly profit in Q3.
2025Brex
Enterprise growth, EU licence and return to San Francisco
Brex said enterprise revenue grew 80% in 2024, won an EU payment institution licence in August 2025, leased about 100,000 square feet in San Francisco, and turned operating-cash-flow positive in October, according to Sacra.
2025N26
First full-year net profit (~$1.81M (€1.6M)) on ~$567M (€501.6M) revenue; both co-founders step back from executive roles.
2026Brex
Acquired by Capital One for $5.15B
Capital One announced the cash-and-stock acquisition on January 22, 2026, and completed it on April 7. Pedro Franceschi stayed on as CEO.
2026N26
Former UBS executive Mike Dargan becomes CEO in April; new COO, CTO and CGMO appointed.
Acquisitions
Brex
- Pry Financials2022$90M
- Weav2021$50M
- Neji, Compose Labs and Landria2020Undisclosed
N26
No verified acquisitions are listed.
Questions about Brex vs N26
Who is the CEO of Brex Inc. and N26?
Brex Inc. is led by Pedro Franceschi and N26 is led by Mike Dargan. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was Brex Inc. founded vs N26?
N26 was founded in 2013 — 4 years before Brex Inc., which was founded in 2017. N26's longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger Brex Inc..
How many employees does Brex Inc. have compared to N26?
Brex Inc. employs approximately 1,100 people, while N26 employs approximately 1,600. N26 has the larger workforce at 1,600 employees, compared to Brex Inc.'s 1,100. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are Brex Inc. and N26 headquartered?
Brex Inc. is headquartered in United States and N26 is headquartered in Germany. Their different home markets mean they may face different regulatory frameworks, tax regimes, and currency exposure.
Who founded Brex Inc. and N26?
Brex Inc. was founded by Pedro Franceschi, Henrique Dubugras. N26 was founded by Valentin Stalf, Maximilian Tayenthal.
Which company has a longer operating history — Brex Inc. or N26?
N26 has been operating for approximately 13 years, making it the more established of the two companies. Brex Inc. has been in operation for around 9 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Brex vs N26 overview