bunq, which claims to be among some of the largest neobanks in Europe, is moving forward with its US banking license process, according to an update shared with CI.
The company has filed for a broker-dealer license as “part of a two-phase strategy to enter the US market.”
This step will enable bunq to gather “operational insights and user feedback before reapplying for a full banking license later this year.”
As bunq expands into the US, it is bringing its “user-centric model to a community of nearly 5 million digital nomads, expats, international entrepreneurs, and remote professionals—EU or US citizens with deep ties on both sides of the Atlantic.”
This mobile, location-independent audience has driven bunq’s growth in Europe to “17 million users and fueled two consecutive years of profits.”
Today, in its annual accounts, the company reports “2024 profits of €85.3 million, which will be reinvested to accelerate its global expansion.”
Ali Niknam, founder and CEO of bunq said:
“Our users live an international lifestyle, and they need a bank that’s global too. As we grow, it’s clear how much they need a bank that works for them, wherever life takes them. That’s why we’re fast-tracking our entry into the US. Today’s step brings us closer to making that vision a reality.”
bunq has filed for a broker-dealer license with FINRA and the SEC.
This first step will allow American users “to invest in stocks, mutual funds, and ETFs, while also offering cash management features such as automatic transfers to FDIC-insured accounts.”
Through its partnership with Mastercard, the mobile bank “will also introduce debit cards.”
The company is now awaiting regulatory approval and “continues discussions to strengthen its global offering and expand its presence in the US.”
Founded in 2012 by entrepreneur Ali Niknam, bunq says that it has brought lasting “change” to the European banking industry.
By having its users at the core of the business and building a product rooted in their wants and needs, bunq scaled to become one of the largest neobanks in the EU.
Serving digital nomads across the European Economic Area, bunq says that it tries to make life easy “for location-independent people and businesses starting from the way they manage money: how they spend, save, budget and invest.”
As stated in the update, bunq claims it was the “first” bank to “get a European banking permit in over 35 years, raised the largest series A round ever secured by a European fintech (€193 million), and was the first EU neobank to achieve structural profitability at the end of 2022.”
On its mission to build the global neobank for digital nomads, in April 2025, bunq announced it’s “fast-tracking its entry in the US by applying for a broker-dealer license and planning to reapply for the full banking license later the same year.”