Finance

Digital bank N26 is thinking of acquiring a competitor

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The logo of German online bank N26 displayed on a smartphone.

Thomas Trutschel | Photothek via Getty Images

LONDON — German online bank N26 is considering making an acquisition for the first time, after raising heaps of cash and trimming its losses despite the coronavirus pandemic.

The $3.5 billion financial technology firm said net losses at its core European business came in at 110 million euros ($133 million) in 2020, down from 165 million euros the previous year.

N26 didn’t disclose a revenue figure for last year, but said gross revenues doubled to nearly 100 million euros in 2019, from 43.6 million euros a year earlier. Its losses also more than doubled that year, though, from 73.2…



Source cnbc.com

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