International expansion has become a cornerstone of N26's growth strategy — and it hasn't shied away from crowded markets:
It's also running a widespread ad across high-traffic areas like public transit in major US cities. These efforts could help N26 stand out among consumers, particularly at a time when competing neobanks — both homegrown competitors like Chime and mature neobanks like Monzo — are entering the US market.
N26 could replicate its US strategy to grow its presence in other markets and inch closer to profitability. Because most neobanks offer their services for free, they often interchange revenue through a debit card, which places them at the whim of their customers' swiping habits, and typically squeezes their revenue if customers don't use the card consistently.
Beyond that, a main hurdle for neobanks is getting customers to use their accounts as their primary bank accounts — overcoming this obstacle could help them reach profitability. Incentivizing consistent card usage in a new market could be a good first step to onboarding users, to whom N26 could eventually upsell more lucrative products.
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