European Fintech bunq Closes Financing of €193 million

Amsterdam-based bank bunq announced the completion of the largest Series A round for a European fintech company led by British private equity firm Pollen Street Capital, raising €193 million. And the financing takes the firm’s valuation to €1.6 billion.

Reportedly, Ali Niknam, Founder and CEO of bunq also participated in the round, investing €25 million. Pollen Street Capital financed the rest of the round.

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Besides, as part of a deal with Pollen Street Capital, bunq has acquired Capitalflow Group, a privately held Irish lending company invested by Pollen Street Capital.

bunq was founded in 2012 by Ali Niknam, who managed to get the first European banking permit in over 35 years. “Bunq now is mature enough to start scaling up significantly, so more capital is welcome,” Niknam said.

Moreover, bunq is intended to acquire smaller companies, for the purpose of fuel its growth strategy.