<div>
  <p>
  </p>
  <ul>
    <li>
      <p>
        Bunq, a Dutch neobank offering digital banking services to individuals and businesses, secured EUR 29 million (~USD 30.9 million) through a commitment letter signed by its shareholders.
      </p>
    </li>
    <li>
      <p>
        The fresh funds will strengthen its position in the UK market and re-enter the US market. The bank 
        <a href="https://sp-edge.com/updates/26421">
          withdrew
        </a>
         its previous US banking license application in February 2024 due to regulatory issues between its Dutch regulator and US authorities.
      </p>
    </li>
    <li>
      <p>
        In 2023, Bunq's deposits quadrupled to over EUR 6.9 billion (~USD 7.4 billion), and the platform&rsquo;s user base grew to 11 million.
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://www.pymnts.com/news/fintech-investments/2024/bunq-raises-31-million-dollars-after-quadrupling-user-deposits-2023/">
      PYMNTS
    </a>
  </p>
  <p>
    <a href="https://fintech.global/2024/04/11/bunqs-latest-31m-capital-raise-to-fuel-u-s-and-u-k-market-penetration/">
      Fintech Global
    </a>
     
  </p>
</div>


Neobanks

<div>
 
 <p>Bunq, a Dutch neobank providing digital banking services to both individuals and businesses, has successfully secured a sum of EUR 29 million, which roughly equals to USD 30.9 million. This fundraising was possible through a commitment letter that was signed by the bank's existing shareholders.</p>
 <p>This fresh injection of funds is aimed towards strengthening the bank's standing and presence within the UK market. Moreover, it is also intended for the re-entry of the bank into the US market. It's important to mention that the bank had to <a href="https://sp-edge.com/updates/26421"> withdraw </a> its initial application for a US banking license back in the month of February, 2024. This had to be done due to certain regulatory conflicts that arose between the Dutch regulator that oversees Bunq, and the US authorities.</p>
 <p>Despite such obstacles, the bank witnessed a substantial growth in the year 2023. The deposits made to Bunq saw a four-fold increase, reaching a total over EUR 6.9 billion. This is approximately USD 7.4 billion. Similarly, the platform also saw a growth in the user base, which increased to total 11 million users.</p>
 
</div>

Bunq raises EUR 29 million in growth funding for expansion

ANALYST_QUICK_TAKE

<div>
 
 <p>Dutch neobank, Bunq, has decided to withdraw its application for a US banking license due to regulatory complications faced with its Dutch regulator and the US authorities. The bank, which provides digital banking services to individuals and businesses, initially applied for the license in <a href="https://sp-edge.com/updates/17518"> April 2023 </a>, intending to expand to all 50 states.</p>
  
</div> <p><b>Analyst QuickTake:<br>
 </b> Bunq also applied for a UK electronic money institution (EMI) license in <a href="https:<br>
//sp-edge.com/updates/26120"> January 2024 </a> , with plans of re-entering the market ahead of its potential IPO. It currently has a European banking license.</p>

Bunq withdraws US banking license application amid regulatory concerns

<div>
 <p>Dutch digital banking services provider, Bunq, has applied for a UK electronic money institution (EMI) license, indicating plans to re-enter the market. The EMI license will facilitate Bunq in accepting new local payment accounts and expanding its product and services range aimed at the UK's 2.8 million digital nomads.</p>
</div> <p><b>Analyst QuickTake: </b> Bunq, currently present in 30+ European markets with 11 million customers, is one of the largest neobanks in Europe. As part of its expansion plans, it applied for a <a href="https://sp-edge.com/updates/17518"> US banking license </a> in April 2023 to offer its services in all 50 states. In addition, it has a European banking license.</p>

Bunq applies for EMI license in UK ahead of potential IPO

PROMINENT_CATEGORY

<div>
 <p>Dutch digital bank Bunq introduces a GenAI chatbot named Finn, combining high-tech models from OpenAI, Meta, and Google to replace its app's search function. Finn has a chat-style interface, permitting users to explore details about their financial habits, from spending routines to account specifics. The chatbot can integrate data to respond to advanced queries, such as recalling specific locations or expenditure at particular places. Bunq has 11 million users across the EU, and since July 2023, the bank has witnessed a 55% deposit growth rate, reaching EUR 7 billion by December 2023.</p>
</div>

All Updates

Bunq raises EUR 29 million in growth funding for expansion

Bunq withdraws US banking license application amid regulatory concerns

Bunq applies for EMI license in UK ahead of potential IPO

Bunq launches GenAI chatbot for enhanced user banking experience

Bunq raises EUR 100 million in growth capital

Bunq announces plans to expand its services in the US

Bunq turns profitable for the first time; generates pre-tax profit of EUR 2.3 million in Q4 2022

bunq partners with Birdee to launch new sustainable investment feature ‘Easy Investments’

bunq partners with Tulp Hypotheken to offer mortgages

bunq unveils multi-currency feature in partnership with Currencycloud