Overview

• A revised shareholders’ agreement drafted by influential backers would see them forego part of the 2021 financing perks if Valentin Stalf and Maximilian Tayenthal step back from daily management.
• Under the proposal, Stalf could transition to the supervisory board while Tayenthal remains on the executive team until a new CEO is appointed.
• N26 has publicly rejected claims that its founders face a forced ouster, calling such reports false.
• A recent BaFin special inspection found renewed risk-management deficiencies linked to the Dutch mortgage unit Neo Hypotheken.
• Investor doubts have grown over N26’s slower customer growth and recurring regulatory setbacks, raising questions about its path to sustainable profitability.