Dutch neobank Bunq goes on hiring spree with a focus on 'digital nomads'

Published On Sep 12, 2024, 1:59 AM

Dutch neobank Bunq is planning to increase its workforce by over 70% in 2024, expanding its headcount to over 700 employees. This hiring spree comes as other fintech companies are laying off employees amid tough market conditions. Bunq aims to enter the U.K. and U.S. markets, targeting the digital nomad segment, a growing demographic that works remotely while traveling. The company is currently applying for banking licenses in both regions to facilitate its expansion. Bunq reported its first full year of profitability in 2023, generating €53.1 million in net profit, which reflects a positive trajectory for the firm in a challenging sector.

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Bunq is expanding aggressively while many competitors retreat, indicating a robust growth strategy. Its focus on the digital nomad market and positive profitability suggests potential for sustained growth. As it seeks to establish a strong presence in underserved markets like the U.K. and U.S., this could position Bunq favorably against competitors who are downsizing.

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Dutch neobank Bunq goes on hiring spree with a focus on 'digital nomads'

Sep 12, 2024, 1:59 AM

Bunq, the Dutch digital bank, told CNBC it plans to increase its global headcount by over 70% in 2024.

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