European challenger bank Bunq raises $228 million at $1.9 billion valuation –

▤ Summary

Amsterdam-based challenger bank Bunq has been self-funded by its founder and CEO Ali Niknam for several years. As part of the deal, Bunq is also acquiring Capitalflow Group, an Irish lending company that was previously owned by … Pollen Street Capital. So why is the company raising external funding after turning down VC firms for so many years? Challenger banks have also represented a highly competitive market over the past years in Europe. Bunq offers bank accounts and debit cards that you can control from a mobile app.

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