bunq, an Amsterdam, Netherlands-based mobile bank, raised an additional €44.5M in growth funding.
The round, which brought the valuation of €1.65 Billion, saw participation from Ali Niknam, Pollen Street Capital and Raymond Kasiman.
The company intends to use the funds to accelerate its international expansion.
Led by Ali Niknam, founder and CEO, bunq offers a mobile banking service for digital nomads across the European Economic Area, to manage money in terms of spending, saving, budgeting, and investing.
The company recently hit 9 million users across Europe and doubled its user deposits in four months, surpassing €4.5 billion. bunq booked its first net profit in the last quarter of 2022 and expects to have its first full year of profit in 2023.
The company got a European banking permit and recently announced its bid to enter the US market by applying for a banking license.
FinSMEs