N26′s stock market debut could take place as early as 2024, though the firm is in no rush to list. The German fintech start-up recently raised $900 million at a $9 billion valuation.
German banking start-up N26 will be prepared for an initial public offering by the end of 2022, co-CEO Maximilian Tayenthal told CNBC.
N26′s stock market debut could take place as early as 2024, Tayenthal said. However, he added the firm is in no rush to list.
N26 is evaluating its path toward becoming a publicly-listed company at a time when traders are getting worried about the potential for higher interest rates from the U.S. Federal Reserve and other major central banks.
Higher rates are viewed as bad news for high-growth tech companies that tend to rely on debt financing to fuel rapid expansion.
However, Tayenthal said N26 is not put off by the prospect of rate hikes. The start-up is a licensed bank, and in 2020 had around 4.3 billion euros ($4.8 billion) sitting on its balance sheet.
If rates were to rise dramatically, N26 wouldn’t need to raise money through an IPO as the business would become “self-sustaining,” the company’s chief added.
Still, N26 remains unprofitable. The group reported a net loss of 150.7 million euros in 2020 — though this was down 30.5% from the previous year.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
