Bunq sees record customer deposits and sets sights on opening an office in Rotterdam

By Aisling Finn on Tuesday 8 December 2020

Digital Banking

Customer deposits jumped from €433m to €633m in the first six months of the year. 

Bunq sees record customer deposits and sets sights on opening an office in Rotterdam
Image source: Ali Niknam/bunq

 

Dutch challenger bank bunq saw its customer deposits increase by nearly 50 per cent in the first six months of the year. 

Deposits in bunq’s accounts topped €633m, up by €200m from the start of the year. 

As a result of the jump in customer funds, bunq is now looking to open an office in Rotterdam in the near future, a step in the opposite direction to most other companies which are shutting-up shop left, right and centre.

Ali Niknam, founder and CEO of bunq said: “We’re super excited to be taking bunq to the lovely city of Rotterdam. It’s a hub for an enormous pool of talent, enabling future growth of bunq.

bunq’s expansion to Rotterdam marks the second time the Amsterdam based bank has opened a new office in less than a year, after opening in Sofia in late 2019.

Wilbert Lek, managing director of Rotterdam Partners, which promotes initiatives benefiting the local economy, added: “Rotterdam is the perfect place for a tech company to flourish.”

“A cosmopolitan melting pot of local and international talent, Rotterdam offers enormous potential for both people and businesses. bunq is a very valuable addition to our city and we look forward to enabling people from the area to contribute to its goal of bringing innovation to the finance sector."

Earlier this year, speaking at the AltFi Festival of Finance, Niknam cemented his view on the importance of having an office, even in light of Covid-19: "It is somewhere where we get together, it’s somewhere where we share dinner, it’s somewhere where we share lunch, it’s somewhere where we share drinks, it’s where creativity flows.”

bunq also became the first digital bank to offer Google Pay in Portugal and the Netherlands last month, after Apple Pay first got made available in both countries in 2019.

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