A neobank is a bank or bank-like company that acquires and serves customers only through an app, either on its own licence (Nubank, Monzo, Starling, N26, bunq, OakNorth, Varo) or on a partner bank's (Chime, Dave, MoneyLion in the United States). The pages below cover the industry's 2026 trends, the shift from debit and interchange to credit, a method for evaluating a challenger bank, and where fintech funding is going. They are built on this site's 23 sourced neobank profiles plus the card networks, payment and lending fintechs under /fintech.
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| Page | What it answers | Updated |
|---|---|---|
| Neobank industry trends in 2026: profit at scale, a charter wave, credit over interchange, AI in production Fintech · Neobanks · 2026 trends | Neobank trends in 2026: who is profitable and since when, the US charter wave (Nubank, Revolut, Chime–Stride, bunq denied), interchange vs credit, Synapse, and AI in production, with dated sources. | Oct 17, 2026 |
| Neobanks from debit to credit: which products, why, how AI underwrites them and what can go wrong Fintech · Neobanks · Credit | Which credit products Chime, Nubank, Revolut, Monzo, Dave, Varo and others launched and when, the interchange-versus-credit economics, how AI underwrites them, the rules and the risks. | Oct 17, 2026 |
| How to evaluate a challenger bank: nine tests, the evidence for each, and how 11 neobanks compare Neobanks · Evaluation method | A nine-criterion method for judging a neobank, with the public evidence for each, applied to 11 profiled neobanks: deposits, capital, economics, credit, AI, enforcement, complaints and valuation. | Oct 17, 2026 |
| Fintech funding in 2026: where the money is going, who is investing and which AI wealth startups raised Fintech · Funding and investors | Fintech funding by quarter from CB Insights and Crunchbase, the largest 2026 rounds, active investors including Sequoia's fintech portfolio, AI wealth-management startups that raised, and 2025–2026 exits. | Oct 17, 2026 |
Neobanks profiled
Which neobanks does this site profile?
| Neobank | HQ | Founded | Licence | Scale | AI in production | Updated |
|---|---|---|---|---|---|---|
| Nubank | Brazil | 2013 | Brazil: payment institution (Nu Pagamentos S.A.), credit, financing and investment company and securities brokerage, supervised by the Banco Central do Brasil, with a bank licence pending through the agreed purchase of Banco Porto Real de Investimentos (July 2026); Mexico: Nu México operates as a commercial bank since August 6, 2026 (CNBV authorization July 10, 2026); US: OCC conditional approval (January 29, 2026) for Nubank, N.A., still pending FDIC and Federal Reserve approvals, with US products live since September 2026 through partner bank Lead Bank. | 139 million customers globally and $1.1 billion of quarterly net income in Q2 2026 (quarter to June 30, 2026) | 5 of 7 | Oct 16, 2026 |
| Revolut | United Kingdom | 2015 | UK bank (PRA/FCA): licensed with restrictions July 2024, full launch March 2026; EU bank via Lithuania (Bank of Lithuania; direct ECB supervision as a significant institution since January 2024); US national bank charter: OCC conditional approval September 2026, with four products — leveraged currency trading, FX forwards, merchant acquiring and correspondent banking for unaffiliated foreign banks — held back pending separate supervisory non-objection; FDIC and Federal Reserve approvals also pending. | Over 80 million retail customers worldwide, as of 25 August 2026 | 5 of 7 | Oct 16, 2026 |
| Chime | United States | 2012 | Not a bank: a financial technology company whose accounts are held at partner banks The Bancorp Bank, N.A. and Stride Bank, N.A. (national banks, OCC-supervised, Members FDIC); CFPB enforcement jurisdiction as a nonbank. Agreed on 8 September 2026 to buy Stride Bank, which would become Chime Bank, N.A. and make Chime a bank holding company, subject to OCC and Federal Reserve approval (close expected H1 2027). | 10.4 million Active Members, as of 30 June 2026 (Q2 2026 results) | 6 of 8 | Oct 16, 2026 |
| Monzo | United Kingdom | 2015 | UK bank (PRA/FCA): Monzo Bank Ltd, fully regulated since 2017; EU bank via Ireland: Monzo Bank Europe DAC, licensed by the Central Bank of Ireland and the ECB in December 2025. US operations being closed (decision announced March 2026). | 15.2 million personal and business customers, as of 31 March 2026 (FY2026 annual report) | 8 of 9 | Oct 16, 2026 |
| Starling | United Kingdom | 2014 | UK bank (PRA/FCA): Starling Bank Limited, a fully licensed and regulated UK bank; group holding company Starling Group Holdings Limited. Also sells its core banking platform as software through Engine by Starling. | 6.2 million Group platform accounts, as of 31 March 2026 (FY26 results) | 6 of 7 | Sep 23, 2026 |
| Dave | United States | 2015 | Not a bank. Deposit accounts, debit cards and the ExtraCash overdraft product are issued by partner banks Evolve Bank & Trust and Coastal Community Bank (both FDIC members); Dave itself is a non-bank consumer financial services company subject to the FTC and CFPB, and since June 2026 funds ExtraCash receivables through Coastal. | 3.08 million monthly transacting members and $170.8 million of revenue in Q2 2026 (quarter to June 30, 2026) | 5 of 7 | Oct 15, 2026 |
| Varo | United States | 2015 | Full-service national bank (Varo Bank, N.A.), chartered by the Office of the Comptroller of the Currency on July 31, 2020 and opened August 1, 2020; the first all-digital US consumer fintech to hold its own charter, so deposits are FDIC-insured directly rather than through a partner bank. | $547 million of lending volume in 2025 through Varo Advance and Varo Line of Credit; about 5 million customers (March 2025) | 3 of 6 | Oct 15, 2026 |
| MoneyLion | United States | 2013 | Not a bank. RoarMoney deposit accounts are issued by Pathward, N.A. (a nationally chartered, FDIC-insured bank); MoneyLion originates Instacash advances and loans itself under consumer-finance law and CFPB supervision. A wholly owned subsidiary of Gen Digital since April 17, 2025, when its NYSE listing ended. | 20.4 million total customers and $545.9 million of revenue in 2024, its last year as a listed company; 110 million connected financial accounts (August 2026) | 3 of 7 | Oct 15, 2026 |
| N26 | Germany | 2013 | German bank (N26 Bank SE) with a full banking licence, supervised by BaFin and the Bundesbank, passported across 24 European markets; under a BaFin special monitor since December 2025. | 5.6 million revenue-relevant customers and €501.6 million revenue in fiscal 2025 (reported June 25, 2026) | 5 of 7 | Oct 15, 2026 |
| bunq | Netherlands | 2012 | Dutch bank (bunq B.V.) licensed and supervised by De Nederlandsche Bank, passported across the EEA; US broker-dealer (FINRA, October 2025); US national-bank charter denied by the OCC in August 2026; Mexican banking licence applied for May 2026. | 20 million users across more than 30 European markets (announced September 9, 2025) and net profit of €85.3 million for 2024 (annual accounts filed April 15, 2025) | 6 of 6 | Oct 15, 2026 |
| OakNorth | United Kingdom | 2015 | UK bank (OakNorth Bank plc) authorised by the PRA and regulated by the FCA and PRA; New York representative office authorised by the Federal Reserve and NYDFS (August 2024); bank holding company application to acquire Community Unity Bank (Michigan) pending before the Federal Reserve (notices June 2025 and June 2026). | £223 million pre-tax profit, £2.8 billion gross originations and £605.9 million gross revenue in 2025 (reported March 17, 2026) | 6 of 6 | Oct 15, 2026 |
| Current | United States | 2015 | Not a bank: Finco Services, Inc. is a financial technology company whose banking services are provided by Choice Financial Group and Cross River Bank (Members FDIC), with FDIC pass-through insurance on member deposits; the Build secured charge card is issued by Cross River Bank. Paycheck Advance is offered through its affiliate Finco Advance LLC. As a nonbank provider of consumer financial products it falls under CFPB jurisdiction. | 6 million customers as of November 2025, according to the company (reported by American Banker, June 2026) | 6 of 7 | Oct 16, 2026 |
| OnePay | United States | 2021 | Not a bank: One Finance, Inc. (NMLS 2273210) is a financial technology company whose banking services are provided by Coastal Community Bank or Lead Bank, Members FDIC, with pass-through deposit insurance. The OnePay CashRewards Mastercard is issued by Synchrony Bank; OnePay Later loans are powered by Klarna and issued by WebBank; brokerage runs through One Growth Securities LLC (FINRA/SIPC). One Finance is licensed by the California DFPI (California Financing Law licence 60DBO-131026) and holds state earned-wage-access licences. | 6 million monthly active users and $50 billion in annualized payments, both double a year earlier (Bloomberg, 2 June 2026) | 8 of 10 | Oct 16, 2026 |
| Albert | United States | 2015 | Not a bank: a financial technology company. Albert Cash accounts and the Albert Mastercard debit card are provided by partner banks Sutton Bank and Stride Bank, N.A. (Members FDIC); savings are held at FDIC-insured banks including Wells Fargo, N.A.; the Instant Line of Credit is issued by FinWise Bank, a Utah-chartered bank, and some loans are made by Albert under licences in Utah and Florida. Albert Investments, LLC is an SEC-registered investment adviser and Albert Securities, LLC a FINRA/SIPC member broker-dealer. Chime agreed on 8 September 2026 to buy Stride Bank. | Over 10 million customers, as Albert stated on 17 July 2026 (company figure; it had said more than 20 million in January 2026) | 7 of 7 | Oct 16, 2026 |
| Step | United States | 2018 | Not a bank: a financial technology company. Banking services are provided, and the Step Visa Card issued, by Evolve Bank & Trust, Member FDIC (supervised by the Federal Reserve and the Arkansas State Bank Department, under a June 2024 Federal Reserve consent cease-and-desist order); balances above $250,000 are swept to Evolve's program banks, giving eligible Step Black users up to $1,000,000 of pass-through FDIC cover. Step Advisers LLC is an SEC-registered investment adviser and investment accounts are held by DriveWealth, LLC, a FINRA member. Wholly owned by Beast Industries since February 2026. | Over 7 million users, per the 9 February 2026 acquisition announcement (company figure) | 4 of 5 | Oct 16, 2026 |
| Greenlight | United States | 2014 | Not a bank: a financial technology company. The Greenlight debit card is issued by Community Federal Savings Bank (a federal savings bank supervised by the OCC, Member FDIC) under licence from Mastercard, with Greenlight acting as the bank's third-party service provider; kids' investing is run by Greenlight Investment Advisors, LLC, an SEC-registered investment adviser. Greenlight Financial CUSO (formed October 2023) serves credit-union partners. | Over 6.5 million family members (Greenlight, 25 June 2026) and more than 200 bank, credit-union and employer partners (March 2026) | 6 of 7 | Oct 16, 2026 |
| Acorns | United States | 2012 | Not a bank. Acorns Advisers, LLC is an SEC-registered investment adviser and Acorns Securities, LLC an SEC-registered broker-dealer (member FINRA/SIPC). Acorns Checking and the Mighty Oak Visa debit card are issued by Lincoln Savings Bank or nbkc bank (FDIC-supervised state banks, Members FDIC); the Acorns Early kids' card is issued by nbkc bank (Visa) and Community Federal Savings Bank (Mastercard). GoHenry's UK business was sold to Barclays on 1 October 2026; Acorns keeps Acorns Early in the US and Pixpay in Europe. | Over 16 million all-time customers and over $33 billion invested since inception (Acorns, October 2026); $13.4 billion of regulatory assets under management across 5.15 million advisory accounts (Form ADV, August 2026) | 4 of 6 | Oct 16, 2026 |
| Upgrade | United States | 2016 | Not a bank: loans, credit lines, cards and checking and savings accounts are issued by partner banks Cross River Bank (New Jersey state-chartered, Member FDIC) and Celtic Bank (Utah industrial bank, Member FDIC); Upgrade, Inc. holds state lending licences under NMLS #1548935. On October 12, 2026 it applied to the Nevada Financial Institutions Division and the FDIC to establish Upgrade Bank, a proposed Nevada-chartered industrial loan company. | Over $53 billion of credit delivered to more than 8.5 million customers since its founding (as of October 12, 2026) | 4 of 6 | Oct 16, 2026 |
| Bluevine | United States | 2013 | Not a bank: business checking deposits are held at Coastal Community Bank (Member FDIC) and sweep-network program banks; the Bluevine Line of Credit is issued by Celtic Bank, a Utah-chartered industrial bank (Member FDIC); term loans come from lending partners. On September 28, 2026 Valley National Bancorp agreed to buy Bluevine for about $340 million, subject to regulatory approvals; after closing the Coastal relationship ends and deposits move to Valley. | About 175,000 active small-business customers, $2.1 billion of deposits and $169 million run-rate revenue (as of June 30, 2026) | 5 of 7 | Oct 16, 2026 |
| Novo | United States | 2016 | Not a bank: Novo Platform Inc. is a fintech and service provider to Middlesex Federal Savings, F.A. (Somerville, Massachusetts; OCC-supervised federal savings association, FDIC Certificate 28368), which holds deposits and now issues the Novo debit card; the Novo Business Credit Card and Novo Business Loan are issued by Continental Bank, and merchant cash advances are offered by the wholly owned subsidiary Novo Funding LLC. | More than 250,000 small businesses (August 2026) and more than $30 billion in transactions processed (October 2024) | 6 of 6 | Oct 16, 2026 |
| Relay | Canada | 2018 | Not a bank: Relay Financial Technologies Inc. is a Toronto-based fintech serving US businesses; Thread Bank (Rogersville, Tennessee; FDIC-insured state-chartered bank) holds deposits, issues the Relay Visa debit and credit cards and clears payments, with a sweep programme extending FDIC coverage to up to $3 million; Relay Capital term loans are provided through Fundbox and originated by Lead Bank. | More than 150,000 small business customers and more than $1.3 billion in managed deposits (May 2026) | 6 of 7 | Oct 16, 2026 |
| Found | United States | 2019 | Not a bank and holds no bank charter: business checking accounts and the Found Mastercard business debit card are provided by Lead Bank, Member FDIC, a state-chartered bank, under a partnership announced in October 2025; Piermont Bank, a New York state-chartered bank supervised by the NYDFS and the FDIC, previously provided Found's banking services (it cited Found as a partner in 2023). | More than 770,000 small business owners served and over $1.3 billion in card volume processed (October 2025); revenue of $20.2 million in 2025, up from $13.9 million in 2024 (Forbes, February 2026) | 4 of 6 | Oct 16, 2026 |
| Lili | United States | 2018 | Not a bank and holds no bank charter: business checking and savings accounts and the Lili Visa debit card are provided by Sunrise Banks, N.A., Member FDIC, with a sweep network of FDIC-insured program banks extending coverage to $3 million; wires run through Column Bank, N.A. and the BusinessBuild secured card is issued by First Internet Bank of Indiana with CapitalOS. Choice Financial Group was the bank named in Lili's 2021 and 2023 releases, and both banks were named in May 2024. | More than 200,000 US businesses served and over $2 billion in deposits facilitated since inception (June 2026) | 6 of 6 | Oct 16, 2026 |
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