Number26, a German digital banking start up backed by Peter Thiel, has raised $40m in a fresh round of funding to drive expansion.
The Series B funding was led by Horizons Ventures and joined by Battery Ventures as well as Robert Gentz, David Schneider and Rubin Ritter. Existing investors Thiel’s Valar Ventures, Earlybird Ventures, and Redalpine Ventures have also contributed in the latest fundraiser.
The company said that the funding will help in the integration of new products such as savings, investment and credit.
Number26 founder and CEO Valentin Stalf said: "This financing round brings together some of the world’s leading investors. They provide the substantial financial resources and networks to accelerate our transformation of the banking landscape over the coming years".
Number26 founder and CFO Maximilian Tayenthal said: "Number26 has fundamentally transformed the traditional banking model.
"We selectively partner with some of the best FinTech companies around the world to offer a platform of products within a seamless, mobile-centric experience. We’ve also built a highly scalable technology base using an extremely lean organizational structure."
Launched in January 2015, the firm has more than 200,000 customers across eight European markets.