Bunq founder Ali Niknam is also participating in the round — he’s investing USD 29.5 million while Pollen Street Capital is financing the rest of the round. As part of the deal, Bunq is also acquiring Capitalflow Group, an Ireland-based lending company that was previously owned by Pollen Street Capital.
The company expects to acquire smaller companies to fuel its growth strategy. Challenger banks have also represented a competitive market over the past years in Europe. This indicates that there will be some consolidation at some point.
Bunq offers bank accounts and debit cards that you can control from a mobile app. It works better if your friends and family are also using Bunq as you can instantly send money, share a bunq.me payment link with other people, split payments and more. In particular, if you’re going on a weekend trip, you can start an activity with your friends. It creates a shared pot that lets you share expenses with everyone.
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