This way N26 became the second highest-valued bank in Germany, slightly ahead of Commerzbank.
The Berlin-based digital bank N26 is one of the most important challenger banks in the EU but has constant problems fighting money laundering.
The German financial supervisory authority BaFin is dissatisfied with the money laundering prevention at N26.
The company has 850,000 customers across its different businesses and is on track to be profitable for the full year in 2023, the first time since its founding 17 years ago.
As interest rates remain high, borrowing will continue to play a significant role in helping these businesses achieve their goals.