GIC Participates in Series D in N26
Posted on 01/10/2019
Singapore’s GIC Private Limited is one of the largest sovereign wealth fund investors in financial technology, according to transaction data by SWFI. N26 GmbH, a Berlin-based online lender, raised US$ 300 million from a Series D round of investors that was led by Insight Venture Partners and GIC Private Limited. Other investors in the round include Allianz, Tencent Holdings, and Valar Ventures, a venture unit owned by PayPal co-founder Peter Thiel.
Post-capital raise, N26 is valued at US$ 2.7 billion and has plans to enter the U.S. market.’ N26 is unique as it does not have a bank branch.