Berlin-based neobank N26 is dropping one other of its key executives, with Georg Hauer asserting at present he’s stepping again after three years on the startup.
As supervisor for the DACH area, Hauer was not solely answerable for the financial institution’s dwelling markets of Germany and Austria but additionally its efforts in progress markets corresponding to Poland and Slovakia. He was considered as considered one of the highest energy gamers amongst cofounders Valentin Stalf and Maximillian Tayenthal.
Hauer joins the fast-growing N26 alumni who’ve jumped ship in current months, following the departures of CPO Georgina Smallwood, HR supervisor Diana Types, CFO Richard Groeneveld and CEO Markus Gunter.
The corporate additionally confronted a backlash from workers final 12 months, demanding a employees union. N26 workers, together with execs, have additionally complained about its very stringent fairness packages, in keeping with a number of sources.
Hauer is leaving to affix fintech newcomer Hawk AI, a Munich-based money-laundering detection and investigation platform that just lately raised a $10m Collection A. Hauer will act as each working and monetary chief at Hawk AI.
His exit comes because the German challenger financial institution is reportedly set to boost funds from Spotify investor Dragoneer, propelling its valuation to $10bn. That might make it considered one of Europe’s most useful fintechs, becoming a member of a choose group of eight different decacorn fintechs.
In a LinkedIn put up, Hauer mentioned “As in my earlier position at N26, I’m trying ahead to becoming a member of a disruptor at first of a very thrilling journey. In the present day, N26 is acknowledged as a real innovator that has modified the face of banking — and I’m excited to take Hawk AI on that very same journey”
Sifted has contacted Hauer for remark.
Tom Matsuda is an editorial intern at Sifted. He tweets from @_tommatsuda and coauthors our Fintech e-newsletter. Enroll right here.