Fintech startup N26 just issued an update on its main metrics. The bank now has 3.5 million customers across 24 European markets. The company is about to expand to new countries, such as the U.S. and Brazil but it sounds like the company is not ready just yet.
In addition to the Eurozone, N26 is currently available in the U.K., Denmark, Norway, Poland, Sweden, Liechtenstein and Iceland.
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If you look at past milestones, N26 announced reaching 2 million customers back in November 2018, 2.5 million customers in February 2019. So growth is still accelerating when it comes to user registrations.
Monzo currently has 1.7 million customers while Revolut has attracted 5 million customers.
But even more important than the number of users, N26 currently handles a volume of €2 billion per month — it represents 400 transactions per minute.
There are now 1,300 people working for the company in Berlin, Barcelona, Vienna, New York and Sao Paulo. Metrics are nice but this is soft news. I hope the company will have more announcements soon about product and country launches.