image : N26

Berlin based fintech N26 has raised $300 million in Series D funding led by New York based VC Insight Venture Partners, with participation from Singapore’s sovereign wealth fund, GIC and several existing investors. The funding brings the total raised by the 5 year old company to more than $500 million, and values it at $2.7 billion.

The $300 million round represents the largest private round for an European fintech company in recent years, and also catapults N26 , which operates operating in 24 markets across Europe, into the unicorn club.

N26 co-founder and CFO Maximilian Tayenthal image : N26

N26 co-founder and CEO Valentin Stalf image : N26

N26 says it’ll make use of the funding to drive global expansion, beginning with a planned launch of its mobile banking product in the U.S. in the first half of this year. The company says it aims to reach over 100 million customers in the coming years.

“Around the world, millions of people still suffer from bad banking experiences and high fees. With Insight Venture Partners and GIC joining our renowned group of existing investors, N26 has the support of the best investors globally to disrupt one of the largest industries in the world.” N26 CEO Valentin Stalf said in a statement.

image : N26

“It’s increasingly rare these days to come across such a massive industry which hasn’t experienced disruption by technology. N26 is the clear market leader in the European mobile banking industry; the company is ideally positioned to expand to the US market this year, and build a formidable global digital consumer brand.” Insight Ventures Partners Principal Harley Miller added.

Since its 2013 launch, N26 has scaled rapidly, with more than 700 employees currently. The Berlin-based company has apartnered with the likes of TransferWise, Allianz, Mastercard, auxmoney and Vaamo to offer financial services like insurance, foreign exchange and savings, in order to boost business.

N26 says it has processed more than €20 billion in payments to date, a seemingly impressive stat for what’s a six year old company.