Germany’s N26 Closes in on Commerzbank With $9 Billion Valuation
- CFO says wants to be ready for IPO decision within two years
- Company faces headwinds as regulator limits customer growth
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German digital bank N26 GmbH has raised money at a valuation of more than $9 billion, about the same as the market capitalization of Commerzbank AG, the country’s second-largest listed lender.
N26 finished a financing round of more than $900 million led by Third Point Ventures and Coatue Management and joined by Dragoneer Investment Group as well as existing investors, it said in a statement Monday. It was previously valued at $3.5 billion.