Berlin-based digital bank N26 is reinforcing its position as a leading pan-European fintech through significant moves announced this week. On March 4, the company revealed plans for a new Centre of Excellence in Madrid, while just two days earlier it confirmed key adjustments to its Supervisory Board. These developments underscore N26’s commitment to scaling operations, mitigating risks, and enhancing governance amid growth across 24 European markets.
The Madrid facility marks a major milestone as N26’s second dedicated Operations hub, complementing its primary site in Berlin.
Situated in the Salamanca district, the 2,000-square-meter space will not only support the company’s expanding Spanish workforce but also coordinate critical international functions, including banking operations, customer service, and day-to-day processes.
Strategically chosen for its connectivity and status as a financial and tech talent hotspot within one of N26’s fastest-growing markets, the hub aims to boost flexibility, diversify operational risks, and ensure uninterrupted service delivery continent-wide.
It will collaborate closely with the Berlin team to maintain seamless support for customers everywhere.
This expansion builds on N26’s existing presence in Spain, where its Barcelona technology centre already employs more than 400 product and engineering specialists developing features for all markets.
Co-CEO Marcus W. Mosen described the Madrid opening as a targeted investment in southern Europe, highlighting its role in tapping local expertise while advancing long-term profitability and resilience.
“We are positioning N26 at the heart of a thriving talent ecosystem,” he noted, emphasizing efficient scaling and stronger European roots.General Manager for Spain and Portugal Antón Díez Tubet echoed this enthusiasm, calling the new centre a symbol of N26’s dedication to innovation in the region.
He pointed to Madrid’s emergence as a digital finance powerhouse that will help solidify the bank’s edge over traditional institutions.
In parallel, N26 announced on March 2 that investors had approved a refresh of its Supervisory Board.
Banking veteran Stefan Ermisch has been elected as a new member with immediate effect—pending standard regulatory clearance from German authorities—replacing Peter Kleinschmidt, who is departing after contributing significantly during a transitional phase.
Kleinschmidt previously served as interim chair and led efforts to professionalize the Risk & Audit Committee.
Supervisory Board Chairman Dr. Andreas Dombret acknowledged Kleinschmidt’s dedication and welcomed Ermisch’s three decades of senior experience, which includes leadership roles at Bank Austria, HypoVereinsbank, UniCredit, Bayerische Landesbank, and most recently as CEO of Hamburg Commercial Bank, where he guided a turnaround and privatization.
“His profound industry knowledge and transformation expertise will add tremendous value,” Dombret stated.
Ermisch expressed excitement about joining, noting the opportunity to support “one of the most promising banking innovators in Europe” as it enters its next growth chapter.
Following the changes, the Supervisory Boards of N26 SE and N26 Bank SE are now aligned, comprising Dr. Andreas Dombret (Chair), Deborah Carlson-Burkart, Stefan Ermisch, Jörg Gerbig, Byron Haynes, and Dr. Daniel Terberger.
Additional appointments are anticipated soon.
With over 1,600 employees from more than 90 nationalities, a German banking license, and annual transaction volumes exceeding €140 billion, N26 continues to integrate investing, saving, spending, and business tools into one intuitive mobile platform. These initiatives signal a clear strategy: operational depth across Europe paired with oversight to fuel sustainable expansion in a competitive landscape.