Fintech/News/

N26 top director departs as digital bank scouts $10bn valuation

Georg Hauer is among a string of key execs to have left the German fintech over the past year.

By Tom Matsuda

Credit: N26 Twitter

Berlin-based neobank N26 is losing another of its key executives, with Georg Hauer announcing today he is stepping back after three years at the startup.

As manager for the DACH region, Hauer was not only responsible for the bank’s home markets of Germany and Austria but also its efforts in growth markets such as Poland and Slovakia. He was viewed as one of the top power players among cofounders Valentin Stalf and Maximillian Tayenthal.

Hauer joins the fast-growing N26 alumni who have jumped ship in recent months, following the departures of CPO Georgina Smallwood, HR manager Diana Styles, CFO Richard Groeneveld and CEO Markus Gunter. 

The company also faced a backlash from employees last year, demanding a workers union. N26 employees, including execs, have also complained about its very stringent equity packages, according to multiple sources.

Hauer is leaving to join fintech newcomer Hawk AI, a Munich-based money-laundering detection and investigation platform that recently raised a $10m Series A. Hauer will act as both operating and financial chief at Hawk AI.

His exit comes as the German challenger bank is reportedly set to raise funds from Spotify investor Dragoneer, propelling its valuation to $10bn. That would make it one of Europe’s most valuable fintechs, joining a select group of eight other decacorn fintechs. 

In a LinkedIn post, Hauer said “As in my previous role at N26, I’m looking forward to joining a disruptor at the beginning of a truly exciting journey. Today, N26 is recognized as a true innovator that has changed the face of banking — and I’m excited to take Hawk AI on that same journey” 

Sifted has contacted Hauer for comment.

Tom Matsuda is an editorial intern at Sifted. He tweets from @_tommatsuda and coauthors our Fintech newsletter. Sign up here. 

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