After 10 Years, Bunq Reaches 20 Million Users But Remains Far Behind Revolut

Digital bank bunq reached 20 million users across Europe as the Amsterdam-based company marked ten years since launching its first mobile app.

The user milestone coincided with bunq's latest app update, unveiled this week at the company's Update 29 event in Amsterdam. The neobank modified its mobile interface based on customer input, wanting to ease access to banking services, investment products and cryptocurrency trading.

"bunq was built to be the first bank people love to use," said Ali Niknam, the company's founder and CEO. "Ten years on, it's truly amazing to see so many already saving, spending, and investing with us."

The redesigned app provides direct access to bunq's core services through simplified navigation. Users can reach bank accounts, savings products, payment cards, stock trading and crypto services with fewer taps than the previous version.

bunq’s User Growth Accelerates Across European Markets

bunq's 20 million user count positions it as Europe's second-largest neobank by customer base. The company has expanded its reach through multiple product launches over the past year, including cryptocurrency trading services that launched in six European Union countries earlier this year.

The crypto offering puts bunq in direct competition with rival neobank Revolut, which has dominated European digital banking. Bunq's crypto platform allows users to trade popular digital assets alongside traditional banking services within a single app.

US Expansion Plans Take Shape

The user milestone announcement follows bunq's recent application for a US broker-dealer license, which would enable the company to offer investment services to American customers. The regulatory filing represents a new step in bunq's plans to expand beyond its European base.

Bunq has also launched stock trading services targeting digital nomads and internationally mobile customers. The investment platform allows users to trade equities while managing their banking needs through the same mobile app.

The company reported 65% profit growth in its most recent financial results, indicating strong momentum as it pursues geographic expansion. Niknam said bunq plans to extend its user-focused approach to global markets.