By Pietro Lombardi

Allianz SE's (ALV.XE) digital investment unit Allianz X has co-led mobile bank N26's $160 million funding round along with China's Tencent Holdings Ltd. (0700.HK), it said on Tuesday.

Allianz X has co-led N26's Series C funding round and joins its board of directors, the company said in a statement.

The funding will support N26's international expansion, in particular in the U.S. and the U.K., along with its growth strategy and product development.

N26 has more than 850,000 customers in 17 European countries. It is targeting more than 5 million customers in 2020, according to the statement.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

(END) Dow Jones Newswires

March 20, 2018 04:15 ET (08:15 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
Allianz Ag Muenchen Namen (PK) (USOTC:ALIZF)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Allianz Ag Muenchen Namen (PK) Charts.
Allianz Ag Muenchen Namen (PK) (USOTC:ALIZF)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Allianz Ag Muenchen Namen (PK) Charts.