$9 billion valuation: Noerr advises Dragoneer on investment in N26

With a team led by Sascha Leske and Felix Blobel, Noerr has advised US tech investor Dragoneer Investment Group on a growth stage funding round of the German neobank N26. The recent $900+ million Series E funding round increases the company’s valuation to more than $9 billion, making the Berlin-based digital banking pioneer the highest valued fintech in Germany, and ranking it amongst the top 20 fintechs in the world.

In addition to Dragoneer, New York-based tech investors Third Point Ventures and Coatue Management as well as some of N26’s existing investors are participating in the funding round.

Noerr is one of the leading law firms for venture capital and growth capital and regularly advises both investors and growth companies on large-volume and complex financing or exit transactions. Noerr’s growth capital practice has a special focus on the areas of FinTech/InsurTech and frequently advises on cross-border transactions in a US/EU context. This year, Noerr advised fintech Deposit Solutions on its merger with Raisin, insurtech Getsafe on a Series B financing and the Berlin-based SaaS company Adjust on its sale to the listed US mobile technology company AppLovin. For the present transaction, Noerr teamed up with leading West Coast law firm Gunderson Dettmer Stough Villeneuve Franklin & Hachigian.

Advisors to Dragoneer Investment Group: Noerr

Dr Sascha Leske (New York), Felix Blobel (Berlin, joint lead, both Venture Capital/Corporate)

Corporate: Lukas Zöllner, Francesc Lloveras Calvo (both Berlin)

Financial services regulation: Dr Karl-Alexander Neumann, Arndt Alexander Schmidt (both Hamburg)