bunq

Bunq (stylised as bunq) is an independent, mobile neobank based in the Netherlands. It offers both personal and business accounts. Users can share bank accounts with whomever they want and pay with worldwide Maestro and Mastercards.

Bunq was founded in 2012 by Ali Niknam (the founder of TransIP), who reportedly managed to get the first European banking permit in over 35 years. He established the company to change the traditional banking industry and, as its sole investor, invested €44.9m in Bunq.

Bunq customers can open one free transaction account, or up to 25 accounts for a monthly fee. They can set up an account in around 5 minutes by simply topping-up their account or through a video chat. Users can also split bills, make payments and request money from friends through the app.

In February 2017, Bunq made its API and SDK public to enable developers to build financial services apps.

In December 2019, CEO Ali Niknam announced that Bunq may turn to VC capital 'in the future' after losing €11m in the last financial year. As of December 2019, Ali is the sole shareholder of the bank. It was also looking to offer GBP accounts, as opposed to just EUR accounts to UK users.

During February 2023 the company partnered with data-powered embedded insurance company Companjon. Through the partnership Companjon will offer extended warranty and purchase protection solution to bunq customers. It will cover financial losses incurred for certain offerings purchased by bunq Easy Green customers. For bunq, Companjon’s embedded insurance solutions complement its product portfolio.