For years, the promise of FinTech startups disrupting the complacent and technologically lagging consumer banks of Europe has been a theoretical one. Now this is finally changing, with two rapidly emerging and well-funded players expanding across Europe (and beyond): London-based Revolut and Berlin-based N26.
Both startups are offering banking services built for the mobile age, in a free and a paid premium plan. While initial doubts about their longevity were justified (as with any startup entering a highly regulated, complicated industry), considering the size of recent funding rounds, chances are good that both services will stick around for a while. N26 just raised $130 million from Tencent and Allianz Group. Revolut pocketed $66 million in a Series B last year from Index Ventures and others. Continue Reading