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Dutch regulator green lights Bunq €193 million Series A

Dutch regulator green lights Bunq €193 million Series A

In what has been dubbed the largest Series A in European fintech history, De Nederlansche Bank (DNB) has finalised a €193 million funding round agreed between challenger bank bunq and British private equity firm Pollen Street Capital.

Bunq, now valued at €1.6 billion, is expected to use the funds to grow the business beyond Amsterdam and across Europe, following the introduction of their German, French and Spanish IBAN offering.

In addition to opening offices in Paris and Cologne, Bunq have also secured the purchase of privately held Irish lender Capitalflow, and are expected to complete more mergers or acquisitions in the near future.

Ali Niknam, founder and CEO of Bunq, says: “We’re incredibly excited to start this next chapter in bunq’s history. Being self-funded until now has given bunq the freedom to build a product our users love. Now we can scale up that mission across Europe and beyond.”

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