German App-Only Bank N26 Prepares for UK Launch as it Looks for a Country Manager

To spearhead its launch into the United Kingdom, N26, a closely-watched German fintech startup, is looking for a country manager.

A job listing on the website of N26 says that the company is seeking for someone to take “charge of the market entry of N26 in the UK.” The successful candidate will be “responsible for the operational setup and development of N26 in the UK market,” and should “build up the branding for N26 within the UK market in order to successfully attract and win new customers.”

An N26 spokesperson refused to comment regarding the timeline of the app-only bank for its launch in the United Kingdom.

In April, the Times reported that the Berlin-based N26 wanted to launch in Britain by the end of 2017. In June, when reporters asked Maximilian Tayenthal, the company’s co-founder and CFO regarding the said plan, he stated: “It’s a really interesting market, and we are thoroughly looking at it. I don’t want to commit to any timeline.”

It is unclear when N26 first published the job listing. However, at the start of October, the same advert was posted on LinkedIn.Reporters believe that in recent weeks, N26 has already approached at least one person at a leading London fintech business regarding the job opening.

N26 is a so-called “neobank” and is founded in 2013 and launched in 2015. A “neobank” is a branchless bank that offers all its services via a smartphone app. The company operates across 17 countries in Europe, including France, Germany, Spain, and Italy, and has already signed up half a million customers.

N26 is one of a number of bank-like services or app-only banks that have emerged across Europe in the last few years. Some rivals of N26 include Revolut and Monzo.

N26 has an important war chest to take on competitors. The 290-pers company has raised over $55 million (£42.7 million), lately raising $40 million (£31 million) from investors including Li Ka-Shing, a billionaire from Hong Kong, last June.