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
Related news
bunq applies for US banking license
bunq, the second largest neobank in the EU, has filed an application for a US banking license with the FDIC in the state of New York. By applying for a bank charter, bunq brings its proven and user...
bunq first EU neobank to report a quarterly profit
The second largest neobank in the EU reaches structural profitability
More than half of European Gen Z and millennials will cut back on holiday spending
Half of young adults in the Netherlands, Germany and France will save on dinners, and 43% will invite fewer guests.
bunq wins appeal against Dutch Central Bank (DNB)
bunq has won a landmark case against the Dutch Central Bank (DNB). Earlier this year the neobank took DNB to court over the use of modern technology in the fight against money laundering. Today's c...