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A Peter Thiel-backed credit card company that caters to people with little to no credit just raised $30 million
New companies like Petal that are trying to make financial services available at more affordable costs have started to emerge in the last year or so.
N26 plans to run a 'beta' testing phase before rolling out to its 50,000-strong UK waiting list in the coming weeks. The app-only bank was founded in Berlin, Germany, but currently operates in 17 markets across Europe and has 1.5 million customers.
Peter Thiel's Valar Ventures has led a $30 million funding round for Coya, a Berlin-based startup trying to build a digital insurance platform pitched at millennials.
The funding will be used for expansion to Asia and India.
The investment, led by the PayPal cofounder's Valar Ventures fund, is one of the biggest 'seed funding' rounds in Germany.