Moving toward an IPO, German mobile bank N26 hires CFO

Dive Brief:

On Monday, Berlin, Germany-based neobank N26 appointed Dr. Jan Kemper as CFO, in what analysts consider a decisive move towards an IPO.
Kemper, whose PhD is in economics, brings decades of experience leading finance and operations at public and private companies. Most notably, he led online retailer Zalando SE's 2014 IPO and served as Group CFO of German entertainment company ProSiebenSat.1 Media SE between 2017 and 2019.
Kemper will report directly to N26 co-founder Maximilian Tayenthal, who had been serving as finance chief, but will now become co-CEO alongside Valentin Stalf. "Jan's track record in scaling companies from start-up through IPO will be invaluable as we set in motion our plans for the future," Tayenthal said in a statement.

Dive Insight:

"It's a really exciting time to be joining N26, a dynamic and successful disruptor in the finance industry with the opportunity to provide radically better banking for millions," Kemper said. "I look forward to working with their team of leaders and innovators as we accelerate N26 towards its growth ambitions in the coming years."

Kemper, who is set to begin in his new role later this year, is the latest in N26's series of executive hires.

In September 2020, N26 hired former Senior Vice President Human Resources, Global Sales and Brands at Adidas, Diana Styles, as chief people officer, and former VP of Global Customer Experience at Dropbox, Adrienne Gormley, as COO.

N26 is among Europe's most successful private fintechs. Following its Series D funding round in May 2020, it received a $3.5 billion valuation.

Its investors include Chinese conglomerate Tencent Holdings and European financial services company Allianz SE, and it's backed by billionaire Peter Thiel.

N26 may file an IPO within the next two years, people familiar with the matter said in October, according to Bloomberg.

The mobile bank currently operates in 25 countries, employs over 1,500 people, and in August announced that after one year in the United States, it had accumulated 500,000 customers.