Neobank Bunq Launches New Feature

European neobank Bunq has launched a new feature allowing its users to invest their cash through a partnership with Birdee.

Bunq, which was founded in 2012 by Ali Niknam, raised €193m in a deal with British private equity firm Pollen Street Capital.

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 companies.

Most neobanks have avoided launching products in the digital wealth bracket, although more recently they have been looking to diversify their revenue streams and capitalise on the boom retail investors.

"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.

Source: AltFi