bunq, the second largest neobank in the EU, now counts 9 million registered users and has over €4.5 billion in user deposits. Also, the company announced it’s launching cashback (up to 2%) and savings interest in multiple currencies.
As one of the first European neobanks to reach profitability, bunq grew its user base from 5.4 million to 9 million in just over a year, with 50% of its user base directly contributing to the company’s revenue (for example, through subscription fees and interest income). In the last four months, the neobank doubled its user deposits, now standing at €4.5 billion.
bunq becomes the first EU neobank to launch the highest cash payouts for its users, allowing them to earn money while they’re spending with bunq. bunq will offer 1% back on food and drinks to all users with Easy Money and Easy Green – plans most used by digital nomads – and 2% back on public transportation to all Easy Green users.
Massive interest in multiple currencies: 3.71% on USD and GBP
Committed to building a borderless experience for its users, bunq now lets them save and receive interest in multiple currencies, giving them 3.71% interest on USD and GBP. bunq’s business users will get 2.3% interest on US dollars and British pound. This way, bunq’s location-independent users can grow their savings in whichever currency they prefer.
„Bringing up to 2% cashback to Europe is very exciting! On top of that we’re introducing new savings accounts that give you up to 3.71% of interest!
” says Ali Niknam – founder and CEO of bunq.
Insights into CO2 footprint from purchases
To help its users achieve real, traceable and tangible impact on the environment, bunq introduces a way to help its users track the CO2 footprint of their purchases. This way, they will be able to make educated choices when making day-to-day transactions.
Additionally, bunq partners with veritree, a data-driven restorative platform that prides itself on verifiable impact on the environment. In cooperation, the two companies commit to planting at least 5 million trees each year, allowing bunq users to more than double their green impact by 2025. Furthermore, users will now be able to see and follow the impact of bunq’s reforestation efforts through a dedicated dashboard, bunq’s Impact Hub.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
