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Dutch neobank bunq raised a further $49.3 million (€44.5 million) in progress capital.
The funding takes the agency’s whole capital raised this yr to $111 million (€100 million). bunq’s valuation stands at $1.8 billion (€1.65 billion).
Based in 2012, bunq has 9 million prospects and $5 billion (€4.5 billion) in buyer deposits
Netherlands-based bunq, the second-largest neobank within the European Union, has earned a valuation of $1.8 billion (€1.65 billion). The brand new valuation comes because the agency locked in a further $49.3 million (€44.5 million) in progress capital. Present buyers Pollen Avenue Capital, bunq Chief Info Officer Raymond Kasiman, and bunq founder and CEO Ali Niknam participated within the spherical. bunq has secured a complete of $111 million (€100 million) funding this yr alone.
“It’s been a very magical yr for bunq; we’re quickly increasing and have seen huge deposit progress,” Niknam mentioned. “With increasingly folks entrusting their cash to us, we’re satisfied that we must always double down on our momentum and cement the best way ahead for future progress.”
bunq was based in 2012, and provides banking, financial savings, funds, playing cards, and different monetary providers. The neobank focuses on serving “digital nomads”: people who dwell and work in a couple of nation. This technique has helped bunq attain 9 million prospects and $5 billion (€4.5 billion) in buyer deposits. Examine this with 5.4 million prospects and €1 billion in buyer deposits simply two years in the past. bunq primarily serves banking prospects in Europe. Nonetheless, the corporate has begun the method of securing a banking license within the U.S.
In 2021, bunq acquired an funding of $213 million (€193 million). On the time, the fundraising was the biggest Sequence A spherical raised by a European fintech. Within the remaining quarter of 2022, bunq introduced its first web revenue. The corporate expects to attain a full yr of profitability this yr.
“I’m extremely proud that, only a decade since our inception, bunq’s service-oriented enterprise mannequin has confirmed to be worthwhile,” Niknam mentioned in February. “Actually aligning our user-centered philosophy with monetary success, we have been in a position to construct a enterprise that’s solely profitable so long as our customers are completely satisfied.”
bunq additionally introduced a set of recent enhancements this month. The corporate now offers prospects as much as 2% again on card spending on public transportation. Cardholders can even benefit from 1% cashback for purchases at eating places and bars. Bunq now permits customers to avoid wasting in a number of currencies, with curiosity paid out weekly. And with local weather change prime of thoughts for a lot of of its prospects, bunq has added carbon footprint monitoring.
Take a look at our dialog with bunq Chief of Workers to the CEO Bianca Zwart from earlier this yr at FinovateEurope. Zwart defined the corporate’s origins and its distinctive enterprise mannequin. She additionally mentioned bunq’s aim of changing into the “international neobank for digital nomads and worldwide folks and companies.”
Picture by Marko Zirdum
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