N26, a Berlin startup that offers financial services directly to consumers, said July 21 it has received a German banking license that will let it offer a fuller range of products across Europe.
The company, whose mobile app lets European consumers maintain an account, transfer money and pay by MasterCard from their smartphones, said in a statement it’s now licensed as a bank by the European Central Bank and Germany’s BaFin financial supervisory authority. The startup, which changed its name from Number26, said the license will let it offer savings, investment, credit and insurance products from partners.
The approval for ...
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