Peter Thiel-backed digital bank N26 plans to be ready for IPO by end of 2022
Summary
BARCELONA — German banking start-up N26 will be prepared for an initial public offering by the end of 2022, co-CEO Maximilian Tayenthal told CNBC. "By the end of the year, N26 will be structurally IPO-ready," Tayenthal said in an interview Monday on the sidelines of the Mobile World Congress technology conference. Based out of Berlin, N26 offers fee-free checking accounts through an app, competing with established lenders in addition to rival fintech firms such as Revolut. Tayenthal founded the company in 2013 with longtime friend Valentin Stalf, and the two have since grown it into a $9 billion business. N26 recently raised $900 million in fresh funding to help it branch out beyond retail banking into new areas like crypto and stock trading.