German mobile bank N26 is thinking of making its first acquisition

  • 📰 CNBC
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 72%

Australia News News

Australia Australia Latest News,Australia Australia Headlines

The fintech start-up, which has raised a total of $800 million to date, is looking at deploying its war chest of funds to buy another firm.

The Berlin-based company plans to hire an additional 200 employees this year, and is also plotting an expansion into Brazil.Thomas Trutschel | Photothek via Getty Images

N26 didn't disclose a revenue figure for last year, but said gross revenues doubled to nearly 100 million euros in 2019, from 43.6 million euros a year earlier. Its losses also more than doubled that year, though, from 73.2 million euros in 2018. and billionaires Peter Thiel and Li Ka-shing. It has also started looking at deploying its war chest of funds to buy a fintech competitor.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in AU
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Australia Australia Latest News, Australia Australia Headlines