N26 can now gain 60,000 new customers per month - financial experts see this as positive for the company

N26 can now gain 60,000 new customers per month - financial experts see this as positive for the company

N26 has been under the special supervision of the Federal Financial Supervisory Authority (Bafin) for two years. After the neobank had to pay a fine of over four million euros for deficiencies in money laundering prevention, a limit was also set for new customers. From then on, N26 was only allowed to acquire 50,000 new customers per month.

According to a report by Business Insider, Bafin has now increased this number. N26 can now gain 60,000 new customers every month. For N26 boss Valentin Stalf, this is a positive sign from the regulatory authority and a sign of trust. He acknowledges that while this number is slightly below his own expectations, it is still a big step.

This easing of growth restrictions could have an impact on the market and the financial sector. By being able to acquire more customers, N26 can further exploit its growth potential and strengthen its position in the market. This could create a positive image and attract potential investors.

However, N26 has recently lost value due to the general economic situation and restrictions on new customers. A valuation of the company in April showed it was worth just three billion dollars, less than half of its value in 2021. However, the easing by Bafin could help N26 regain its value and improve its financial situation.

Source: www.businessinsider.de