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COM:N26

N26 Bank AG

  • Privately Held
OverviewAnalysisMetricsFinancialsFilingspeopleAPIData
Pros and Cons

Strong presence in multiple European markets

High expected profit margin of over 70% for 2023

Mid-single-digit percentage user growth expected for 2023

Over 30% expected revenue growth for 2023

Significant funding rounds totaling close to US$1.8 billion

Lack of detailed EBITDA margin data

Strong competition from other neobanks like Revolut and Monzo

Limited information on specific acquisitions or integrations

Summary
Competition
The competitive landscape for N26 Bank AG is highly dynamic with several neobanks and foreign currency transfer services providers such as Revolut, Monzo, Starling Bank, Wise, Monese, Bunq, Hype, OnlyOne, Kroo, and BlackcatCard. Each competitor offers a wide range of services and advanced mobile banking technology. However, regulatory issues, limited geographical presence, and fewer features compared to traditional banks are some of the challenges faced by these competitors.
Business
N26 Bank AG is a German neobank that has been providing mobile banking services since its inception. Known for its transparency, simplicity, and innovative features, N26 has grown significantly through multiple funding rounds and strategic partnerships. The bank operates in various European countries and has a strong focus on digital services and user-friendly interfaces.
Recent Acquisitions
Assessment

Growth

Revenue Organic

N26 is expected to grow its revenue organically by over 30% in 2023, demonstrating strong internal growth capabilities.

Revenue Overall

N26's overall revenue growth, including both organic growth and acquisitions, is expected to be over 30% in 2023, indicating robust growth.

Profile

Multinational

N26 operates in various European countries, indicating a strong presence in multiple markets. This diversification reduces dependency on a single geographic region.

Clear Market Leader

N26 is a significant player in the neobanking space but faces strong competition from other neobanks like Revolut and Monzo. The market is highly competitive, and N26 has not yet established clear dominance.

Buy-and-Build Platform

N26 has not shown significant growth through acquisitions or integrations. Most of its growth seems to come from organic expansion and product development.

Resilience

Non-cyclical

N26 operates in the financial services industry, which can be affected by economic cycles. However, its focus on digital banking and neobanking services may provide some insulation against economic downturns.

Revenue Visibility

N26 has a predictable revenue model with steady user growth and recurring revenue from premium accounts, indicating a stable and visible revenue stream.

Profitability

Gross Margin

High profit margin indicates strong pricing power and effective cost management.

EBITDA Margin

-

No specific EBITDA margin data is provided for N26, making it difficult to assess this KPI.

Cash Conversion

With over 70% expected profit margin for 2023, N26 demonstrates strong ability to convert profits into cash flow.