Demographic Research - Robo-Investors (N26 Investment)
A deep search in the public domain reveals that the information on demographic analysis of people who make use of N26's investment services is non-existent, and the media mention on the specified topic is scarce. The most relevant media mention include the demographic profiles of N26 consumers in general. Below are the helpful findings and a detailed methodology on the request.
I) N26 General Consumer Demographic Profiles:
a) Age Range / Generation
- N26 launched its recent branding campaign in the US, which celebrates diversity and highlights the benefits that it's target demographic, millennials, appreciate. The benefits include speed, security, peace of mind, transparency, and early access.
- According to a Statista report, 17% of N26 consumers are between 18-24 years old, 42% are between 25-34 years old, 22% are between 35-44 years old, and 19% are 45 years and older.
- According to a Global Web Index report, 58% of N26 challenger bank users are male, while 42% are female.
- According to a report by Street Bees, conducted by AltFi, 44% of men are aware of the digital and challenger bank, N26, compared to 24% of women.
c) Income Level
- According to a Global Web Index report, 34% of N26 challenger bank users are in the top 25% income level, 42% are in the middle-income level, while 15% of users are in the bottom 25% income level.
d) Geographical Locations
- According to a Similar Web report, 28.04% of N26 users are from Germany, 19.15% are from France, 11.20% are from Italy, 6.13% are from Spain, and 4.5% are from the UK.
e) Average Size of Deposits by Consumers
- According to a Gründer-Szene and Finanz-Szene research report, N26 gets an average deposit of €588 per depositor.
II) Helpful Findings:
a) N26 GmbH
- N26, "The Mobile Bank," based in Berlin, is considered as the highest valued fintech company in Europe; it provides its services throughout Europe.
- N26 was founded in 2013 by CEO Valentin Stalf, together with his longtime friend CFO Maximilian Tayenthal.
- N26 currently serves "more than 3.5 million customers in 24 European markets, and it conducts 16 million transactions per month."
- The company, N26, launched their mobile banking app in the US in July 2019, and it plans to start its operations in Brazil with the goal of reaching "over 50 million customers worldwide in the coming years."
b) N26 Invest
We found the broadened general demographic profiles of N26 Bank consumers, which includes their age range, gender, income level, average customer deposits, and geographical locations. To search for the required information, demographic analysis of people who make use of N26's investment services, we employed three research strategies outlined below:
We began our search by going through the company's website. Here, we searched for the company's press releases, annual reports, and shareholders reports for any relevant information about the customer demographics of N26 investment services. After a deep search, we could not find any relevant information on the demographic analysis of customers using N26's investment services. However, we could find that its investment services are called "N26 Invest". Also, we were able to discover general information about N26. Next, we searched for the case studies or reports about N26 demographic profiles of N26 Invest customers, including age range, the average size of investment held/operated, gender, income level, and geographical locations. We went through sources such as Statista, KPMG, The Startup Founder, Lumos Business, Tech Crunch, Tear Sheet, and EU Startups, among others. However, we still didn't find any relevant information about specific demographic profiles of N26 Invest customers to address the research criteria. We could only find information about the updated number of customers of N26 in general, geographic locations of N26 operations, average customer deposits entrusted to N26, N26 age range demographics in general, and the company's primary target audience in general. Also, we found out that N26 is considered as a challenger bank or neobank, according to the KPMG report.
Finally, we searched for data and statistics that can be used for triangulation by using market intelligence sources such as Global Web Index, Deloitte, AltFi, EY, Cognizant, and Accenture, among others. Still, we could not find any relevant information that can be used for triangulation to address the research criteria. However, we only found the general consumer awareness statistics of N26, and the general gender and income level demographic profiles of broadened "challenger bank" consumers, which does not address the specific question about the general demographic characteristics of N26's users.
NOTE: Due to lack of pre-compiled reports or any data and statistics that can be used for triangulation, we, therefore, concluded that there is no publicly available information regarding demographic characteristics of N26 Invest users. This is because of reasons like; N26 is a private company that rarely discloses its internal information such as demographics.