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OverviewAPI
N26, a German neobank, anticipates a 30% revenue increase in 2023 but expects a sharp rise in net losses due to regulatory compliance spending. The company's net losses accelerated in 2022, reaching €213.4m, while revenues grew by 24% to €236.3m. N26 has been battling regulatory restrictions imposed by BaFin, resulting in a refocus on continental European markets after exiting the UK and US. The company aims to halve its losses to €100m by the end of 2023 and become profitable on a monthly basis in the second half of 2024.

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