Allianz X to sell its stake in the capital of N26

Allianz X, a subsidiary of Allianz dedicated to digital investments, intends to withdraw from the capital of the Berlin-based neobank N26.

Sources close to the matter reported that the German insurer has engaged a consulting firm to sell its 5.3% stake in N26, held since 2018.

Should the operation materialize, the bank would be valued at 3 billion USD, which is a 68% discount compared to the 9 billion USD valuation of October 2021.