Bunq’s new chief operating officer named as hiring ramps up

By Oliver Smith on Friday 13 August 2021

Digital Banking

CEO Ali Niknam is putting the digital bank’s €193m funding to work.

Bunq’s new chief operating officer named as hiring ramps up
Image source: Jon Fath/Bunq.

Jon Fath, the former CEO of logistics automation group Transmetrics, has been named as the new chief operating officer of digital bank Bunq.

Fath revealed his appointment in a post on LinkedIn yesterday, saying, “after an amazing adventure with Transmetrics, I have decided to move on to a new challenge.”

Bunq completed its bumper €193m Series A last month, the first external funding that CEO and founder Ali Niknam has raised, and now in-post Fath said that hiring was his top priority.

“We are aggressively hiring at bunq in #marketing, #operations, #product, #engineering, #finance, #hr, #analytics,” he wrote.

While leaving Transmetrics day-to-day, Fath said he will remain a board member of the company that he led over the past year.

Bunq’s recent funding gave it unicorn status, with a valuation of €1.6bn and justifying the €98.7m that Niknam had bootstrapped the giant fintech with since 2012.

Bunq also made an acquisition as part of the round, snapping up Ireland-based lender Capitalflow Group for an undisclosed amount in order to branch out into SME lending.

In April Bunq revealed it had reached monthly profitability, as its user deposits topped €1bn, more than doubling on the year before.

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