Bunq, the Dutch digital bank, has reached a significant milestone by achieving profitability in 2023. With this accomplishment under its belt, Bunq is now eyeing the Irish SME lending market, following its acquisition of Capitalflow.
Capitalflow, founded in 2016 by Ronan Horgan, aimed to revolutionize SME lending. After being acquired by Bunq, the lender issued €360m in loans in 2022, showcasing the potential of this partnership. With plans to ramp up lending to €600m annually by 2026, Bunq and Capitalflow are set to reshape the Irish lending scene.