In a bid to attract more users to its digital banking app, N26 is teaming up with Stripe to power its payments and make onboarding easier.
Announced ahead of the Money 20/20 conference in Amsterdam next week, Stripe said N26 was using its payments technology to enhance crucial parts of its business, such as account top-ups through credit cards, debit cards and digital wallets from directly within the app.
The German neobank joins a growing list of diverse companies that are turning to Stripe for their payments processing, including Ford, Spotify and ‘buy now, pay later’ unicorn Klarna.
Stripe said that N26 used the Irish-founded company’s documentation and API to build their new pay-in flow in just six weeks – making Stripe’s range of payment methods available to customers in 24 countries.
“Stripe is an essential part of our product experience. It helps power a critical step in the onboarding experience, allowing us to bring on new customers easily and quickly,” said Amaury Hellebuyck, business operations associate at N26.
Founded in 2013, N26 launched its first product in 2015 – eventually getting a full European banking license. Today, it has more than 7m customers across 24 markets and employs around 1,500 people globally. Valued at more than $9bn, it has raised more than $1.8bn to date.
Last October, the company raised $900m in a Series E funding round from high-profile investors, including Third Point Ventures, Coatue Management LLC, Dragoneer Investment Group, Insight Venture Partners, GIC, Tencent, Allianz X, Peter Thiel’s Valar Ventures, among others.
The digital bank now plans to expand its products into new sectors and enhance services for its growing customer base.
“We chose Stripe because it has a technology-first mindset that is closely aligned to ours. This is important as we build N26 to fit the changing banking landscape. With a shared commitment to innovation, we look forward to bringing even more people effortlessly online,” said Hellebuyck.
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