8.6 C
New York
Sunday, July 21, 2024
Home Challanger banks Bunq is looking for acquisitions of fintech peers during the crisis

Bunq is looking for acquisitions of fintech peers during the crisis

The founder of bunq Ali Niknam is not worried about the bright future of his challenger bank and claims that the company was left untouched by the corona crisis except everybody had to work from home.

“We are seeing that our revenue is still growing at an incredible pace. We’re seeing interchange revenue slightly decline because of travel restrictions but, we are seeing an increase in pace for our business subscriptions,” Niknam said at the AltFi Digital Summit 2020 last week.

Read also: Bunq challenger lets you create joint accounts with others

Ali Niknam was an avid programmer since childhood and studied computer science at the Delft University of Technology. He has launched the web-hosting startup TransIP in 2003 when he was only 21 years old. This company is now the 3rd biggest domain name provider in the world.

With his money from TransIP Niknam was able to launch bunq. Since 2012 bunq was able to go live across 30 countries and has processed over €433m in user deposits.

Except for their Travel and Premium subscription bunq is offering SuperGreen subscription that lets their customers help the environment while spending their money “At bunq, we want to make green easy. That’s why we’re the only bank in the world that enables you to become completely CO2 free in less than 2 years.”

Now Niknam is considering acquiring some fintech companies who are likely struggling during the post-COVID crisis time. “There’s a high quality of assets available at a discount, so somewhere down the line, there will be some sort of mergers or acquisitions by incumbents. But, I’d be surprised if nothing happens,” Niknam told AltFi.

With that, Niknam is also very driven with expanding abroad, particularly to the U.S.A., see more about this in the full article below.

Read also: Bunq is considering a US expansion and could have its first funding round ever

Jan Cerny
Jan is an innovation enthusiast and Fintech news reporter. He specializes in news distribution, social media, and content analysis.

Recent posts

NEW Revolut UK CEO to make Conference Debut at MoneyLIVE Summit

MoneyLIVE has today announced that Revolut’s newly appointed UK CEO will be making her conference debut at MoneyLIVE Summit 2024, which is...

2024’s Financial Innovators: A New Era of Banking Startups 

In the wake of the COVID-19 pandemic, our world witnessed an unprecedented shift towards digitalization. The banking industry, in particular, has been...

C-suite Banking and Payments Leaders From Across Europe Set to Meet at London’s MoneyLIVE Summit in March

On the 6-7 March 2024 MoneyLIVE Summit will return to London’s QEII Centre to unite over 1000 banking and payments leaders from...

The Evolution of Digital Wallets: A Shift from Physical Cards by 2030

By 2030, we can expect digital wallets to become the preferred payment instrument, offering a myriad of non-payment-related services for consumers.