Tencent Holdings Ltd. and Allianz X, the digital investment unit of Allianz Group, have led a US$160 million series C round in N26, a mobile bank headquartered in Munich. Mobile banking has always been a focus of Tencent. It launched China’s first online-only bank WeBank in 2015. Its social media and messaging app WeChat also includes function such as online payment to friends and vendors. Daily transaction volume of WeChat is around 600 million. N26 mobile bank allows users to do international transfers directly within its app at reduced fees.