Welcome to Everly.eu’s weekly summary. Let’s see the most important news we have covered during the week in a TOP 5 list!
N26 has done it again and they secured $100M in extended funding. N26 co-founder Maximilian Tayenthal said that the last month has already seen many people embrace banking from home, move away from cash and towards contactless payments and e-commerce.
Revolut has secured $500m in its recent Series D and is set to provide its customers with a super-app. Revoluts CEO Nikolay Storonsky has announced that Revolut seeks to acquire travel aggregators.
Alpian, a Swiss neobank launched by REYL that wants to attract wealthy customers. Revolut has also launched a licensed bank in Lithuania with insured deposits and Robinhood raised another $280 million at Series F funding after another successful month.
1st place: N26 raises another $100M in extended Series D
N26 extended its Series D funding round to $570M, the company is now valued at $3.5B.
No new investors participated in the round. James Fitzgerald from VC Valar Ventures said: “This funding extension will help an already well-funded and successful business take the lead at a time when people are embracing digital banking more than ever.”
2nd place: Revolut’s next step is acquisition of smaller fintech companies
Revolut raised $500m in its recent Series D funding round and is looking to use it to buy companies that have been hit by the coronavirus pandemic.
This has been confirmed in a recent interview for The Financial Times by Revolut’s CEO Nikolay Storonsky.
3rd place: Alpian is REYL’s digital neobank from Switzerland and it raised $12.5M
Alpian, a Swiss neobank launched by REYL, announced that it has secured CHF 12.2 million (around $12.5) in a Series A funding round.
Geneva-based REYL is set to launch Switzerland’s first digital private bank in 2021. Target customers are those who posses investible assets of between CHF100,000 and CHF1 million.
4th place: Revolut launches a bank to provide insured deposits
Revolut has launched a licenced bank in Lithuania, enabling the 300,000 customers in the country to safely deposit their salaries in deposit-protected bank accounts.
The challenger got its Lithuanian banking licence back in December 2018. But Revolut is also pursuing a UK banking licence and will likely try to obtain a US licence.
5th place: Robinhood raises $280M and pushes its value to $8.3B
The $280 million was raised at Series F funding. This round was led by Sequoia Capital.
In the Series F funding round existing and new investors were present including NEA, Ribbit Capital, 9Yards Capital, and Unusual Ventures.
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