Neobank Bunq launches investments
The Amsterdam headquartered European neobank is hoping to boost its coffers through the digital retail investing boom.
European neobank Bunq has launched a new feature allowing its users to invest their cash through a partnership with Birdee.
The Dutch fintech, which last year also became a unicorn following a valuation of €1.6bn from the deal, will now give its customers the option of investing via three diversified portfolios screened for environmentally friendly criteria.
Most neobanks have avoided launching products in the digital wealth space, although more recently they have been looking to diversify their revenue streams and capitalise on the boom retail investors.
As AltFi recently reported Monzo is on the hunt for a wealth business boss while rival Revolut has long made large returns from its foray into stock and crypto trading, which it also recently rolled out in the US.
“This is a really exciting development for bunq. With ‘Easy Investments’, bunq users can put their money to work and earn more effortlessly, all while helping to build a greener planet,” Bunq founder and CEO, Ali Niknam.
The new investments feature comes as part of an update to its app that will also see 10 more foreign currencies supported meaning users can now receive, hold, convert, and spend in 15 different currencies