bunq, a neobank with 11 million customers, ended 2023 with a internet annual revenue of €53.1 million, the corporate introduced at this time (Tuesday). The Netherlands-headquartered neobank is now eying to enter the UK and has utilized for an E-Cash Establishment (EMI) license within the nation.
The profitability of the corporate got here as its gross earnings jumped by 20 % within the final quarter of 2023, whereas the gross curiosity elevated by 488 %. The client deposits within the neobank additionally elevated fourfold, from €1.8 billion in 2022 to about €7 billion on the finish of 2023.
Though 2023 was the primary yr for the Dutch firm to hit the profitability goal, it first grew to become worthwhile within the fourth quarter of 2022 when it generated a pre-tax revenue of €2.3 million.
Swipe into fee-free adventures! 💳 ✈️ Take pleasure in fast setup and no charges with bunq’s Free Credit score Card. pic.twitter.com/UiWWVYnmkm
— bunq (@bunq) January 24, 2024
A Strategic Growth
In the meantime, the doorway of the neobank within the UK markets isn’t the primary. It operated within the nation earlier than Brexit and continues to serve its present clients. The EMI license will allow it to onboard new clients once more. The corporate additionally highlighted the estimated 2.8 million British digital nomads to be its potential buyer base.
“The UK is dwelling to the second-highest variety of digital nomads globally, so naturally, we wish to be there”, mentioned Ali Niknam, founder and CEO of bunq. “We wish to really make their life simple, that’s why we’re excited to reintroduce bunq to the Brits and allow them to financial institution like a neighborhood all throughout Europe.”
“As a bridge between Europe and the remainder of the world, the UK is on the forefront of European fintech and a vastly vital marketplace for bunq. As a real tech firm, it solely is sensible for us to pursue this market.”
Established in 2012, Bunq is headquartered in The Netherlands and operates throughout Europe with a banking license obtained from the house nation. The neobank additional utilized for a banking license in the US final yr and is now ready for approval.
bunq, a neobank with 11 million customers, ended 2023 with a internet annual revenue of €53.1 million, the corporate introduced at this time (Tuesday). The Netherlands-headquartered neobank is now eying to enter the UK and has utilized for an E-Cash Establishment (EMI) license within the nation.
The profitability of the corporate got here as its gross earnings jumped by 20 % within the final quarter of 2023, whereas the gross curiosity elevated by 488 %. The client deposits within the neobank additionally elevated fourfold, from €1.8 billion in 2022 to about €7 billion on the finish of 2023.
Though 2023 was the primary yr for the Dutch firm to hit the profitability goal, it first grew to become worthwhile within the fourth quarter of 2022 when it generated a pre-tax revenue of €2.3 million.
Swipe into fee-free adventures! 💳 ✈️ Take pleasure in fast setup and no charges with bunq’s Free Credit score Card. pic.twitter.com/UiWWVYnmkm
— bunq (@bunq) January 24, 2024
A Strategic Growth
In the meantime, the doorway of the neobank within the UK markets isn’t the primary. It operated within the nation earlier than Brexit and continues to serve its present clients. The EMI license will allow it to onboard new clients once more. The corporate additionally highlighted the estimated 2.8 million British digital nomads to be its potential buyer base.
“The UK is dwelling to the second-highest variety of digital nomads globally, so naturally, we wish to be there”, mentioned Ali Niknam, founder and CEO of bunq. “We wish to really make their life simple, that’s why we’re excited to reintroduce bunq to the Brits and allow them to financial institution like a neighborhood all throughout Europe.”
“As a bridge between Europe and the remainder of the world, the UK is on the forefront of European fintech and a vastly vital marketplace for bunq. As a real tech firm, it solely is sensible for us to pursue this market.”
Established in 2012, Bunq is headquartered in The Netherlands and operates throughout Europe with a banking license obtained from the house nation. The neobank additional utilized for a banking license in the US final yr and is now ready for approval.
