visimoney
TLDR: Bunq, a neobank with 11 million users, ended 2023 with a net annual profit of €53.1 million. The Netherlands-based company has now applied for an E-Money Institution (EMI) license in the UK as it seeks to enter the market and serve the estimated 2.8 million British digital nomads. Customer deposits on the platform increased from €1.8 billion in 2022 to about €7 billion at the end of 2023. This is the first profitable year for Bunq, which also applied for a banking license in the US last year and is awaiting approval.
Bunq, a neobank with 11 million users, reported a net annual profit of €53.1 million for 2023. The company has now applied for an E-Money Institution (EMI) license in the UK as it aims to enter the market and target the estimated 2.8 million British digital nomads. Customer deposits on the platform increased from €1.8 billion in 2022 to about €7 billion at the end of 2023. Bunq also applied for a banking license in the US last year and is currently awaiting approval.
