N26 breaks records: sales jump and profit zone after Bafin restrictions!

N26 breaks records: sales jump and profit zone after Bafin restrictions!

Berlin, Deutschland - The smartphone bank N26 has mixed up the financial world! With the end of the strict restrictions on growth by the Bafin financial supervision, the company has catapulted its sales up and reached the profit zone. The founders Valentin Stalf and Maximilian Tayenthal proudly announced that N26 has been writing black every month for half a year. An impressive increase in gross turnover by 40 percent to around 440 million euros is expected for 2024 compared to the previous year!

growth restrictions canceled

But what was the reason for the previous restrictions? Since November 2021 to June of this year, N26 had to live with a strict limit. The Bafin had found that the Berlin start-up had grown too rapidly and did not take enough money laundering and finance fraud. As a result, N26 was imposed to accept only 50,000 new customers every month. These measures now have an end and the bank can finally start again!

The future looks rosy for N26, which has established itself as one of the leading actors in digital banking. By returning to unchecked growth, the bank could not only expand its market shares, but also set new standards in the FinTech sector. The cancellation of the restrictions could usher in a new boom for the smartphone bank!