Dutch neobank bunq has raised €44.5 million in growth capital at a €1.65 billion valuation, bringing its total funding for the year to €100 million.
Current investors founder Ali Niknam, Pollen Street Capital and Raymond Kasiman joined the round for Europe’s second largest neobank.
The valuation is the same as when the company closed a €193 million Series A in 2021 – despite the recent market downturn.
New of the funding comes day after bunq revealed that it grew its user base from 5.4 million to nine million in just over a year. In the last four months, the neobank doubled its user deposits to €4.5 billion.
Ali Niknam, CEO, bunq, says: “With more and more people entrusting their money to us, we’re convinced that we should double down on our momentum and cement the way forward for future growth.”