Neobank N26 eyes IPO, but must fix its money laundering problems first

https://www.verdict.co.uk/neobank-n26-eyes-ipo-but-must-fix-its-money-laundering-problems-first
Stone, Staffordshire / United Kingdom - July 16 2019: Macro photo of N26 Bank app start screen on the smartphone display. Bank card numbers are fake. Conceptual photo for digital or virtual bank.

German fintech N26 plans to go public, is shopping for a new US banking partner and is bullish about its ability to outcompete its rivals on the back of a $900m Series E round. But first it must convince regulators that it is doing everything it can to prevent financial crimes.

The challenger bank has been rumoured to be heading for an initial public offering (IPO) for some time. A thematic research report from GlobalData recently named it as one of the tech unicorns most likely to head for a public float in the next two years. And it seems as if an IPO really is in the cards for N26.

“Our teams are currently focused on laying the foundations for a public listing in the coming years, and we will continue to remain close to our investor community during this journey,” an N26 spokersperson tells Verdict.

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