bunq secures €100M in growth capital despite market downturn

Amsterdam, 24 July 2023 - bunq, the second largest neobank in the EU, secures an additional €44.5M in growth capital, bringing the total capital injected into bunq this year to nearly €100M. This fresh capital allows the mobile bank to further accelerate its international expansion and continue its rapid growth. Current investors Ali Niknam, Pollen Street Capital and Raymond Kasiman joined the round and committed to an investment valuation of €1.65 billion, despite this year’s market downturn.

The funding round follows a record year for bunq. The challenger recently hit 9 million users across Europe and doubled its user deposits in just four months, with deposits surpassing €4.5 billion. In 2021 bunq raised €193M, the largest series-A ever raised by a European fintech, valuing bunq at €1.65 billion.

It’s been a truly magical year for bunq: we’re rapidly expanding and have seen massive deposit growth. With more and more people entrusting their money to us, we’re convinced that we should double down on our momentum and cement the way forward for future growth. Ali Niknam, founder and CEO of bunq

bunq booked its first net profit in the last quarter of 2022 and expects to have its first full year of profit in 2023.

Contact details

Related topics

Receive exclusive news

Are you a journalist or do you work for a publication?
Sign up and request access to exclusive news.

Request access

Receive bunq news on your RSS reader.

Or subscribe through Atom URL manually