N26 vs Toast: Founders, CEOs and History
N26 was founded in 2013 by Valentin Stalf, Maximilian Tayenthal and is led by Mike Dargan. Toast was founded in 2011 by Aman Narang, Steve Fredette, Jonathan Grimm and is led by Aman Narang.
Company facts
Founders
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.
Toast
Aman Narang
Aman Narang co-founded Toast in 2011 alongside Steve Fredette and Jonathan Grimm. Originally attempting to build a mobile payment app for restaurants, the founders pivoted to building a complete Android-based point-of-sale system.
Steve Fredette
Steve Fredette co-founded Toast in 2011. As President and long-time product visionary, he architected the company's shift from a simple POS hardware provider into a comprehensive software ecosystem handling payroll, inventory, and online ordering for restauran…
Jonathan Grimm
Jonathan Grimm co-founded Toast and served as its Chief Technology Officer. He built the initial cloud-native backend that allowed restaurants to manage menus and view analytics from anywhere, a massive upgrade over the hard-wired, on-premise servers used by l…
CEOs and their tenures
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
Toast
- Chris Comparato2015–2023
Chief Executive Officer
As CEO from 2015 to 2023, he scaled the company from a small startup into the dominant cloud POS provider in the US restaurant industry, increasing locations served to over 100,000.
Source - Aman Narang2024–present
Co-Founder and Chief Executive Officer
He successfully guided the company toward GAAP profitability while maintaining massive market share growth against rivals like Square and Clover.
Source
Timeline: N26 and Toast side by side
2011Toast
Toast Founded in Cambridge by MIT Endeca Alumni
Aman Narang, Steve Fredette, and Jonathan Grimm founded Toast to build cloud software for restaurants.
2013N26
Valentin Stalf and Maximilian Tayenthal found the company in Berlin as Papayer.
2013Toast
Pivots from Mobile Consumer App to Full Restaurant POS
Pivoted to a complete cloud restaurant POS system, signing its first commercial restaurant in Cambridge.
2015N26
Launches as Number26 in Germany and Austria with accounts issued by Wirecard Bank.
2015Toast
$30M Series B Led by Bessemer Venture Partners
Raised $30 million, crossing 1,000 restaurant locations and expanding regional field sales across the US.
2016N26
Receives its own German banking license and rebrands as N26; Valar Ventures leads a $40 million Series B.
2018N26
Raises $160 million Series C led by Tencent and Allianz X; launches in the UK.
2018Toast
$115M Series D at $1.4B Valuation & Launches Toast Go
Raised a $115 million Series D led by TCV and Tiger Global, reaching unicorn status, and launched the Toast Go handheld.
2019N26
Series D led by Insight Partners values N26 at $3.5 billion; launches in the US.
2020N26
Closes UK accounts after Brexit ends EU passporting.
2020Toast
$400M Series F at $4.9B Valuation & COVID-19 Operational Pivot
Raised a $400 million Series F at a $4.9 billion valuation in February 2020, then cut about half its workforce in April 2020 as COVID-19 shut dining rooms.
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.
2021Toast
Historic Initial Public Offering on the NYSE (NYSE: TOST)
Went public on the New York Stock Exchange, raising $870 million at an opening valuation of $20 billion.
2021Toast
Toast IPO
Toast went public on the New York Stock Exchange in September 2021.
2022N26
Exits the US market and launches crypto trading with Bitpanda.
2023Toast
Expands to Canada, UK and Ireland; Crosses 100,000 Locations
Began selling outside the US and passed 100,000 restaurant locations.
2024N26
BaFin lifts the growth cap in June; N26 reports its first quarterly profit in Q3.
2024Toast
Aman Narang Appointed CEO & Toast Achieves GAAP Profitability
Co-founder Aman Narang became CEO on January 1, 2024; Toast reported $19 million of GAAP net income for the year, its first annual profit.
2025N26
First full-year net profit (~$1.81M (€1.6M)) on ~$567M (€501.6M) revenue; both co-founders step back from executive roles.
2025Toast
Revenue Reaches $6.15B and Net Income $342M
Added a record 30,000 net locations to about 164,000 and processed about $195 billion in GPV.
2026N26
Former UBS executive Mike Dargan becomes CEO in April; new COO, CTO and CGMO appointed.
2026Toast
About 180,000 Locations and $2.4B ARR by Mid-Year
Q2 2026 revenue rose 23% to $1.91 billion with a record 9,500 net location adds.
Acquisitions
N26
No verified acquisitions are listed.
Toast
- Delphi Display Systems2023Undisclosed
- xtraCHEF2021Undisclosed
- Sling2021Undisclosed
Questions about N26 vs Toast
Who is the CEO of N26 and Toast, Inc.?
N26 is led by Mike Dargan and Toast, Inc. is led by Aman Narang. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was N26 founded vs Toast, Inc.?
Toast, Inc. was founded in 2011 — 2 years before N26, which was founded in 2013. Toast, Inc.'s longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger N26.
How many employees does N26 have compared to Toast, Inc.?
N26 employs approximately 1,600 people, while Toast, Inc. employs approximately 6,500. Toast, Inc. has the larger workforce at 6,500 employees, compared to N26's 1,600. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are N26 and Toast, Inc. headquartered?
N26 is headquartered in Germany and Toast, Inc. is headquartered in United States. Their different home markets mean they may face different regulatory frameworks, tax regimes, and currency exposure.
Who founded N26 and Toast, Inc.?
N26 was founded by Valentin Stalf, Maximilian Tayenthal. Toast, Inc. was founded by Aman Narang, Steve Fredette, Jonathan Grimm.
Which company has a longer operating history — N26 or Toast, Inc.?
Toast, Inc. has been operating for approximately 15 years, making it the more established of the two companies. N26 has been in operation for around 13 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 N26 vs Toast overview