There's a new European unicorn in town.
German fintech firm N26 said Thursday it has raised $300 million from investors in a round of funding — valuing the online lender at $2.7 billion.
That not only puts the company among the ranks of Europe's unicorns — or private start-ups valued at more than $1 billion. It also makes it one of the most valuable unicorns in the continent.
According to data compiled by CB Insights, just six other privately held European firms can claim to top N26's market value: Global Switch, Roivant Sciences, Auto1 Group, Ottobock, The Hut Group and BGL Group.
N26's latest funding exercise was led by U.S. private equity firm Insight Venture Partners with additional backing from Singaporean sovereign wealth fund GIC. Its other backers include Chinese tech giant Tencent, German insurer Allianz and PayPal co-founder Peter Thiel's venture arm Valar Ventures.