The bank closes a round of financing of 900 million dollars that places its valuation in 9,000 million. Commits to supervisors to stop the entry of customers.

The new digital competitors have gone from being a threat to a reality.

N26, one of the main exclusively 'online', has announced the closing of a round of financing of 900 million dollars (777 million euros), which places its valuation at 7,770 million euros, almost the same as they are worth on the Bankinter stock market and Banco Sabadell together. This round is the largest ever for digital banks in Europe.

It has been mainly backed by funds such as Third Point Ventures, Coatue Management and Dragoneer Investment Group, alongside those that have already entered the company in previous investments.

N26 is a German bank based in Berlin with a European banking license that offers its services in Eurozone countries. Currently, except in Germany, it only has a single branch in the nation capital of each country in which it operates, as it is an online bank.

This neobank has 730,000 clients in Spain, which makes this market one of the bank's four main ones, along with Germany, France and Italy. N26 currently has about 140 employees in the country, of which 130 are in the Barcelona technology center. The group's plans are to reach around 300 professionals at that headquarters and also grow in Madrid.

N26's plan is to use this capital to finance the launch of new products and incorporate about 1,000 employees in the coming years.

Above all, it will reinforce profiles focused on product, technology and cybersecurity. Where it will not be able to allocate these 900 million N26 is in accelerating the acquisition of customers, since the German regulator has imposed a limit of customer acquisition, between 50,000 and 70,000 per month. In the event that this figure is exceeded at any time, the mobile entity will put the new users on the waiting list.