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.
About bunq
Founded in 2012 by serial entrepreneur Ali Niknam, bunq has brought lasting change to the European banking industry. By having its users at the heart of the business and building a product rooted in their wants and needs, bunq quickly scaled to become the second largest neobank in the EU. Serving those with an international lifestyle across the European Economic Area, bunq makes life easy for location-independent people and businesses starting from the way they manage money: how they spend, save, budget and invest.
Pioneering many things considered impossible, bunq was the first bank to get a European banking permit in over 35 years, raised the largest series A round ever secured by a European fintech (€193 million), and was the first EU neobank to achieve structural profitability at the end of 2022. On its mission to build the first global neobank for digital nomads, in April 2025, bunq announced it’s fast-tracking its entry in the US by applying for a broker-dealer license and planning to reapply for the full banking license later the same year.
Contact details
Related topics
Related news
bunq completes first phase of US banking license filing as it reports its second consecutive year of profits
bunq, the second largest neobank in Europe, is moving forward with its US banking license process.
British ‘cuisine’ is the second biggest thing UK digital nomads miss after their family and friends
bunq, Europe's second-largest neobank, has surveyed nearly 5,000 digital nomads to uncover the realities of life on the move.
From roommates to road trips: Tricount tallies €16.4 billion shared in 2024
Tricount by bunq, a global go-to app that automates group expense tracking for nights out, holidays, and housemates, published its first annual wrap up, tallying users’ shared expenses in 2024.
Expats face rising costs across Europe, with London and Dublin topping the list
As the digital nomad lifestyle continues to surge, bunq’s latest research highlights rising costs for expats across Europe.
bunq to nearly double global headcount in 2024
In a bid to become the world’s first global neobank for digital nomads, bunq announces plans to grow its global headcount by 70% by the end of 2024.