As announced at the MoneyConf fintech conference held last week in Dublin, the mobile bank N26 has chosen Barcelona as its second European headquarters and will be setting up shop here as of this coming September. The company already has registered offices in Berlin and New York.
The Catalan capital was chosen for its entrepreneurial ecosystem and for having become one of the most outstanding epicentres of technology on the world map. In addition to the entrepreneurial sector and quality of life in the city, another determining factor was Spain’s position as one of the company’s priority markets.
N26 has opened a selection process in Barcelona through its website, as it will be recruiting over a hundred engineers and experts in technological product development. The goal behind the fintech framework is to redesign banking to make it more accessible and contemporary. In fact, it was created from the very beginning to be used exclusively from smartphones. N26 closed a round of funding in March to the tune of 160 million dollars, and last week exceeded a billion euros in monthly transactions with over a million clients.
Best strategy for attracting foreign investment
Besides the advantages already mentioned, Barcelona is the European city that offers the best strategy for promoting and attracting foreign investment and the second city in southern Europe with the best prospects for the 2018-2019 period, according to the report FDi Cities and Regions of the Future, prepared by a group from the Financial Times. This prestigious source describes Catalonia, for the second year running, as the best region in southern Europe for investing in.
N26 will receive support from the business landing service provided by the Business Support Office (OAE), a Barcelona Activa facility. The OAE dealt with over 6,000 companies in 2017.