Thiel-Backed Fintech N26 to Offer Mobile Service to Boost Growth
N26 is seeking to expand beyond its core offerings and its main markets of Germany, France, Italy and Spain.
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N26, the Peter Thiel-backed German neobank, is planning to offer mobile phone contracts to customers as it seeks new avenues for growth, copying a strategy that its larger competitor Revolut introduced last year.
“Germany has some of the most expensive local plans among telecommunication markets in Europe,” Chief Executive Officer Valentin Stalf told Bloomberg News in an interview on Monday. N26 will start offering telecom services in May using one of the top two German mobile networks, he said.