8.6 C
New York
Sunday, February 5, 2023
Home Uncategorized Bunq plans to acquire Tricount

Bunq plans to acquire Tricount

With the acquisition of the TriCount application, the Dutch neobank Bunq should gain more than 5.4 million of its users.

TriCount is based in Belgium and has over 5.4 million registered users from all over the world, mainly from France, Spain, Germany, Belgium and Italy.

Read also: Starling raises £130.5 million at £2.5 billion valuation

Bunq, founded in the Netherlands in 2012 by entrepreneur Ali Niknam, raised 193 million euros last year, valuing the company at around 1.6 billion euros.

Niknam does not want to disclose the takeover price but said that it was ‘a magical evening’ yesterday. 

“Tricount’s commitment to simplicity, transparency and community perfectly aligns with our own values. I’m very happy that we’re able to offer Tricount’s users many new ways to make life easy,” Bunq founder and CEO Ali Niknam said in a statement.

It is an investment made with the objective of both internal and external expansion.

This is how Bunq has also just acquired Capitalflow, a Dublin-based company that provides credit to SMEs in a wide range of sectors of the Irish economy. A deal valued at 141 million euros.

Along with this Tricount takeover announcement comes the introduction of new features for personal and business Bunq users.

For example, it will be possible to store all of its accounts, cards and other functionalities in folders, but also to communicate with other users.

“We fully subscribe to Bunq’s mission and are very proud to be a part of it. I’m excited for the many opportunities this gives our users,” Tricount co-founder and CEO Jonathan Fellon said in a statement.

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

Recent posts

Partnership between Credits and Unlimint

Credits is a digital neobank that combines many financial services into one application, focusing on providing financial services for the cryptocurrency space.

UK Neobank Zopa Raises £75 Million in All-Equity Investment

The company has 850,000 customers across its different businesses and is on track to be profitable for the full year in 2023, the first time since its founding 17 years ago.

UK SMEs Lean on Business Finance and Credit for Growth and Sustainability

As interest rates remain high, borrowing will continue to play a significant role in helping these businesses achieve their goals.

UK FinTech Funding: A Resilient Performance Amid Global Decrease

Despite the decline in funding for UK fintechs, there are still investment opportunities available.