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German online bank N26 seeks to launch IPO in 3 to 5 years

German online lender N26 GmbH is looking to launch an IPO in three to five years, the Financial Times reported, citing CEO Valentin Stalf.

Stalf also said the lender has now resolved some of the shortfalls that banking regulator BaFin identified recently and that the rest of the problems will be dealt with in the coming weeks.

Another source familiar with the matter told the newspaper that N26 is addressing its anti-money laundering shortcomings.

N26, meanwhile, named Thomas Grosse chief banking officer, effective October.