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Germany-based N26 Bank's valuation hits $2.7B, plans US expansion

German mobile bank N26 Bank GmbH secured $300 million in funding and intends to use the proceeds to expand globally, starting with the U.S. in the first half.

The bank said it is now valued at $2.7 billion after the Insight Venture Management LLC-led series D funding round. Singapore's sovereign wealth fund GIC Pte. Ltd. also participated in the round, along with some existing investors.

The bank said 2.3 million customers hold about $1 billion in its accounts, and that its ultimate goal is to reach 100 million customers.

N26 Bank operates as a subsidiary of N26 GmbH.