Berlin-based digital bank N26 expects to offer its services in Britain and the United States by the end of the year, its founder and chief executive told Reuters. N26, which counts Hong Kong billionaire Li Ka-shing and Silicon Valley investor Peter Thiel among its backers, is competing with traditional branch-based retail banks by offering a suite of mobile banking services that customers can use from their smartphones.
Since its launch in 2015, N26, with a German banking licence that gives it access to the entire European Union, has expanded into 17 European countries including Austria, France, Spain and Italy. "We will enter the British market this year and expect the market there to be of similar importance to us as France," Chief Executive Officer Valentin Stalf said in an interview.