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German fintech startup Number26 becomes N26, obtains banking license

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German fintech startup Number26 becomes N26, obtains banking license

German financial technology company Number26 has received afull German banking license from German regulator Bafin and the , and has changed its name toN26, the firm said July 21.

Granted July 18, the license allows N26 to carry out bankingoperations throughout the EU. The company had previously done so through apartnership with WirecardAG's Wirecard BankAG. N26 said it applied for the banking license ninemonths prior to the regulatory approval.

N26 was founded in 2013 by Valentin Stalf and MaximilianTayentha. Since January 2015, N26 has been available for Android, iOS anddesktop interfaces, and it now has more than 200,000 clients in eightcountries, the firmsaid.