Osborne Clarke advises N26 in billion-dollar funding round with top investors

Osborne Clarke has advised N26 in a recent financing round with investors including Third Point, Coatue and Dragoneer for approximately EUR 700,000,000 based on a valuation of approximately EUR 8 billion.

N26 is a German direct bank based in Berlin that specialises in account management via smartphone. As a direct bank, N26 offers a current account that can be opened and managed entirely via smartphone app. The bank offers so-called real-time banking: All transactions can be viewed within seconds in the app and are displayed to the customer via push message.

Coatue is a billion-dollar fund of Philippe Laffont, who is also involved in the start-up Gorillas. Third Point was founded by Daniel Loeb and is invested, for example, in the super app Grab or the lending platform Upstart. The fund Dragoneer is one of the early Spotify investors.

The Osborne Clarke team advising N26, led by Nicolas Gabrysch and Till-Manuel Saur (Corporate/VC), consisted of Antje Günther, Reinhard Bunjes and Olexiy Oleshschuk (Finance), Philip Meichssner, Natalie Merkle and Susanne Kühltau (all Corporate), Philipp Niedermeyer, Fabian Mimberg, Robert Marx and Carina Harksen (Corporate/VC).

N26 in-house:

Anke Ulrich (General Counsel), Franz Hahn and Jan Alpha.

N26 only selected regulatory matters:

Freshfields - Alexander Glos

White & Case - Heinrich Nemeczek, Sebastian Pitz

Notary:

Dr Sebastian Höfling (Taylor Wessing)