German digital bank ends U.S. operations

A German fintech company is ending all operations in the U.S.

N26, a Berlin-based virtual bank that offers digital banking services, will lay off all 46 employees of its Hudson Square Office on Feb. 15.

The company, which said that it had 7 million customers in 25 countries in October, is closing its U.S. branch to focus on core European markets like Germany, France, Italy and Spain, as well as expanding in Eastern Europe.  

“We are deprioritizing the U.S. in order to sharpen our strategic focus on the important role we have to play as a pioneer in digital banking in Europe,” said Alex Weber, chief growth officer

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