Mobile bank N26 has announced that it will open its second European office in Barcelona on 1 September this year.

The challenger bank said that Barcelona will be the company’s third company location after Berlin and New York.

“Barcelona is recognized as one of Europe’s leading technology and innovation hubs with a thriving entrepreneurial ecosystem,” N26 said in a statement.

The bank aims to build a team of more than 100 engineers and product experts in the Spanish city by the end of next year. The Barcelona office will concentrate on product development and technology.

N26 CEO Valentin Stalf said: “Opening a new location in Barcelona will help us to continue our growth as a world-class global technology employer by reaching more talent and offering more international opportunities for a highly diverse workforce.”

In November last year, the bank unveiled its plans to enter into the UK market in the first half of 2018.

N26, founded in 2013, operates across 17 European markets and has more than 430 employees. It has raised $215m from investors including Allianz X, Tencent Holdings, and Earlybird Venture Capital, among others.