Following this announcement, shareholders of the financial institution pledged EUR 29 million in order to accelerate the internet bank Bunq’s development process, while also focusing on meeting the capital requirements of the Dutch Central Bank and increasing their equity.
The financial institution is expected to leverage the investment in order to meet the evolving needs, preferences, and demands of customers, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the industry.
Internet Bank Bunq was developed in order to provide businesses, customers, and partners with the possibility to access and benefit from simplified finances, as well as to have full control and transparency over the solutions they use. The financial institution delivers its expertise and suite of services in order to improve the overall banking experience of customers, as well as to accelerate their development journey in a secure and efficient manner.
According to rtlnieuws, the internet bank Bunq is expected to focus on further development in the region of the United Kingdom, as well as the region of the United States. At the same time, the financial institution aims to resubmit the application for a banking license with the US regulator OCC, which was initially withdrawn recently. This initiative will take place as Bunq is also considering alternative legal forms in order to start working in the region of the United States.
Internet bank Bunq also experienced rapid growth and development in 2023, as customer assets went from EUR 1.8 billion to more than EUR 6.9 billion. The financial institution posted a net profit last year as well, mainly due to Bunq’s increased interest income. According to the same source, these incomes tripled in 2023, from more than EUR 41 million to more than EUR 127 million.
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