N26 Achieves Profitability with 40% Revenue Surge

The German neobank rebounds after regulatory restrictions, investing heavily in fraud prevention.

N26's revenue is projected to increase by 40% to approximately 440 million euros in 2024.
The company has reached profitability for the first time, reporting monthly profits over the past six months.
Regulatory restrictions imposed by Bafin limited N26's growth from November 2021 to June 2024 due to concerns over money laundering controls.
During the restriction period, N26 invested over 100 million euros in fraud prevention, incorporating artificial intelligence.
Despite revenue growth, N26 will end 2024 with a 20 million euro operational loss due to strategic investment decisions.