German app-only bank N26 gears up for UK launch as it recruits country manager

N26 team founders valentinstalf maximiliantayenthalN26N26 founders: Valentin Stalf, left, and Maximilian Tayenthal.
  • German app-only bank N26 recruiting a manager to lead “market entry in the UK.”
  • The hot startup has signed up 500,000 customers in just two years and raised $US55 million.

LONDON — Closely-watched German fintech startup N26 is recruiting a country manager to spearhead its launch into the UK.

A job listing on N26’s website says it is looking for someone to take “charge of the market entry of N26 in the UK.” The successful applicant will be “responsible for the operational setup and development of N26 in the UK market,” and should “build up the branding for N26 within the UK market in order to successfully attract and win new customers.”

A spokesperson for N26 declined to comment on the app-only bank’s timeline for launch in the UK.

The Times reported in April that Berlin-based N26 wanted to launch in Britain by the end of the year. When Business Insider asked cofounder and CFO Maximilian Tayenthal this in June, he said: “It’s a really interesting market and we are thoroughly looking at it. I don’t want to commit to any timeline.”

It’s unclear when N26 first posted the job listing but the same advert was posted on LinkedIn at the start of October. Business Insider understands that at least one person at a leading London fintech business has been approached by N26 about the job in recent weeks.

Founded in 2013 and launched in 2015, N26 is a so-called “neobank” — a branchless bank that offers all its services through a smartphone app. The company operates across 17 countries in Europe, including Germany, France, Italy, and Spain, and has already signed up half a million customers.

N26 is one of a number of app-only bank or bank-like services that have sprung up across Europe in the last few years. UK rivals include Monzo and Revolut.

N26 has a significant war chest to take on competitors. The 290-person business has raised over $US55 million (£42.7 million), most recently raising $US40 million (£31 million) from investors including Hong Kong billionaire Li Ka-Shing last June.

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