For several years, N26 and Revolut have been fighting to be the most attractive neobank in Europe. But this battle is particularly cash-intensive, and the Berlin mobile bank was able to see this once again in 2021. Last year, the net losses of the German neobank thus widened to reach 172.4 million euros, against 150.7 million a year earlier.
At the same time, N26’s revenue jumped 50.3% to €182.4 million. The fintech from across the Rhine also indicates that the volume of transactions carried out by customers increased by 59%, exceeding 80 billion euros in 2021, against 50.3 billion in 2020. As for deposits, they climbed by 52%, to 6.1 billion euros. Finally, N26 won more than a million new customers in 2021. The Berlin neobank now claims more than 8 million.