bunq, a neobank with 11 million customers, ended 2023 with a internet annual revenue of €53.1 million, the corporate introduced in the present day (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 20 % within the final quarter of 2023, whereas the gross curiosity elevated 488 %. The shopper deposits within the neobank additionally escalated fourfold, from €1.8 billion in 2022 to about €7 billion on the finish of 2023.
Though 2023 was the primary 12 months 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! 💳 ✈️ Get pleasure from fast setup and no charges with bunq’s Free Credit score Card. pic.twitter.com/UiWWVYnmkm
— bunq (@bunq) January 24, 2024
A Strategic Enlargement
In the meantime, the doorway of the neobank within the UK markets shouldn’t be the primary. It operated within the nation earlier than Brexit and continues to serve its current prospects. The EMI license will allow it to onboard new prospects once more. The corporate moreover 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 need to be there,” stated Ali Niknam, the Founder and CEO of bunq. “We need to actually make their life straightforward, that’s why we’re excited to reintroduce bunq to the Brits and allow them to financial institution like an area 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 massively 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 america final 12 months and is now awaiting approval.
bunq, a neobank with 11 million customers, ended 2023 with a internet annual revenue of €53.1 million, the corporate introduced in the present day (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 20 % within the final quarter of 2023, whereas the gross curiosity elevated 488 %. The shopper deposits within the neobank additionally escalated fourfold, from €1.8 billion in 2022 to about €7 billion on the finish of 2023.
Though 2023 was the primary 12 months 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! 💳 ✈️ Get pleasure from fast setup and no charges with bunq’s Free Credit score Card. pic.twitter.com/UiWWVYnmkm
— bunq (@bunq) January 24, 2024
A Strategic Enlargement
In the meantime, the doorway of the neobank within the UK markets shouldn’t be the primary. It operated within the nation earlier than Brexit and continues to serve its current prospects. The EMI license will allow it to onboard new prospects once more. The corporate moreover 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 need to be there,” stated Ali Niknam, the Founder and CEO of bunq. “We need to actually make their life straightforward, that’s why we’re excited to reintroduce bunq to the Brits and allow them to financial institution like an area 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 massively 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 america final 12 months and is now awaiting approval.
