German digital bank N26 said on Tuesday it has raised $900 million in a new funding round that values the firm at $9 billion.
That's nearly three times N26's valuation in its last private fundraising round and means it's now worth slightly more than Commerzbank, Germany's second-largest lender. Frankfurt-listed Commerzbank has a market cap of 7.6 billion euros .
"We want to bring in more people with a focus on product, technology and security," Tayenthal told CNBC in an interview.N26 now has 7 million customers across Europe and the U.S. and is on track to process $90 billion in transactions this year. The company recently acquired a banking license in Brazil, with a team of 40 employees already on the ground in São Paulo. N26 expects to roll out its app publicly in the country within the next year, Tayenthal said.
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