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

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.