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bunq becomes second biggest neobank in EU

European challenger welcomes 5.4 million users through its acquisition of Tricount

Amsterdam, May 3, 2022 - bunq welcomes 5.4 million new users to its community with the acquisition* of Belgian fintech Tricount, a move that makes bunq the EU’s second largest neobank. The European challenger bank announces this tonight at bunq Update 20 in DeLaMar Theater in Amsterdam. Other announcements include the launch of several features for personal and business users. Among those is bunq Jackpot, which gives Dutch, German and French users 3 chances to win €10K every month, simply by using the bunq app.

Following its July 2021 series A financing round - the largest in European fintech history - bunq has been vocal in wanting to fuel its core mission through mergers and acquisitions. By acquiring Tricount, millions of users now get easy access to a multitude of features that take the hassle out of everyday money admin.

Ali Niknam, CEO and founder of bunq, says:

Tricount’s commitment to simplicity, transparency and community perfectly aligns with our own values. I’m very happy that we’re able to offer Tricount’s users many new ways to make life easy!

Jonathan Fellon, CEO and co-founder of Tricount, says:

We fully subscribe to bunq’s mission and are very proud to be a part of it. I’m excited for the many opportunities this gives our users.

bunq Jackpot

At tonight’s Update event bunq also introduces bunq Jackpot, which gives users 3 chances to win €10K every month. They can increase their odds of winning by using their bunq card(s), by adding and keeping money in their bunq accounts, and by inviting friends to use bunq.

bunq Jackpot enables users to mitigate historically low interest rates on one end and riskier alternatives on the other. They now have an easy way to bridge this gap and can get a high return on their money, without any risk or effort.

New Personal and Business features

bunq also introduces a number of in-app changes, including upgrades to its Home and Community tabs.

The Home tab now gives users the ability to group accounts, cards and other features, customizing the app to their individual needs. This marks the first time bank users can manage all their personal, business and group finances in one app, from one screen.

The Community tab builds further upon bunq’s founding principle to have users play a pivotal role in shaping the overall bunq experience. Starting today, users can interact with bunq and with other users directly by sharing and responding to posts. By adding knowledge and rating guides, bunq users are the first bank account holders whose personal experiences can leverage a positive impact on all their fellow users.

About bunq

bunq was founded in 2012 by serial entrepreneur Ali Niknam (1981) after he secured the first European banking permit in over 35 years. He set out to radically change the traditional banking industry and was bunq’s sole investor until 2021, financing the company with €98.7m of his own money. This provided bunq with the freedom and independence to build a bank rooted in the wants and needs of its users. In April 2021, their deposits surpassed €1 billion for the first time, having doubled in 2019 and then again in 2020. 

In July 2021 bunq announced the largest series A round ever secured by a European fintech. bunq raised €193 million in a deal with British private equity firm Pollen Street Capital, valuing bunq at approximately €1.65 billion. At the same time, bunq also reported its first-ever profitable month. The first investment of external capital will help bunq to further expand across Europe and to continue incorporating M&A as part of its business growth strategy. As part of the deal, bunq acquired Capitalflow, a Dublin-based company which lends to SMEs across a broad range of sectors in the Irish economy.

About Tricount 

Tricount is the European leader in group expense management. The Tricount app allows users to register and balance their expenses during activities with friends. Tricount serves currently more than 5.2 million registered users. Headquartered in Belgium, it operates globally, with a focus in France, Spain, Germany, Belgium and Italy.

*pending regulatory approval

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