FinTech Alliance company N26 has announced it reached the one million user milestone in France last month.
This reportedly means it has surpassed banking giant HSBC, which has 900,000 customers in France according to recent figures.
Founded in 2015, the challenger bank launched in France in 2017.
In total, there are 3.5mn N26 users across 26 markets.
What does this mean?
N26 has a lot of backing from investors and now seems to have the backing of the public, too. The company’s recent value was around £2bn, and it counts Chinese internet giant Tencent among its investors.