Tech

Dutch Challenger Bank reaches € 1.6 billion in first external investment

Bunq achieved a € 1.6 billion valuation in a € 193 million Series A round. In this round, a Dutch digital bank acquired Irish lending company Capitalflow Group.

Pollen Street Capital has contributed € 168 million and bunq founder Ali Niknam (who has previously funded the company) has contributed an additional € 25 million. Under this agreement, bunq will acquire Capitalflow Group from Pollen Street Capital.

Founded by Nikunam in 2012, bunq is currently available in 30 European markets with user deposits of € 1 billion. The company, which operates a subscription-based model, says it has recently been profitable.

The New Deal marks the beginning of an M & A strategy in which bunq not only makes its first external investment, but also partners with the Irish market to undertake companies with SME lending expertise.

Niknam said: “Bunq was founded to challenge what a bank is and what it can do. A bank that focuses on making life easier in a sustainable way by putting users first. is created.”

Dutch Challenger Bank reaches € 1.6 billion in first external investment

Source link Dutch Challenger Bank reaches € 1.6 billion in first external investment

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