European neobank bunq has entered the wealth management space with the launch of stock trading on its platform, the company announced today (Wednesday). It is eyeing the growing digital nomad community, giving them access to popular US and EU public company stocks and exchange-traded funds (ETFs).

A Staggered Launch Across Europe

Initially, stock trading services will be available for bunq users in France and the Netherlands, but the company plans to expand throughout Europe.

“Investing in stocks should be as effortless as making a payment or checking your balance,” said Ali Niknam, founder and CEO of bunq. “That's why we've designed the simplest way to start investing, allowing our users to buy shares of the world's most exciting companies in seconds.”

bunq’s launch came only a day after Revolut revealed its standalone wealth management app, offering stocks, bonds, and even contracts for differences (CFDs). Finance Magnates also broke down Revolut’s CFDs deal with CMC Connect, which is offering execution and clearing of these derivative contracts.

Rather than targeting high-rolling investors, bunq is focusing on digital nomads, who are also among the primary users of its legacy services. According to the company, 47 percent of European digital nomads are already actively investing, while 41 percent are considering starting investments in the next 12 months. Further, over half of these digital nomads have been investing for the long term, and 57 percent of them prefer to invest while on the move.

Drumroll please 🥁 You can now buy and sell stocks and EFTs straight from your bunq app 🎉 Powered by our partner Ginmon, you can get started with just €10, and you won’t pay any trading fees in your first 3 months 📈 🚀 #stocks #bunqUpdate26 pic.twitter.com/9cUdgJU3Aw

— bunq (@bunq) September 24, 2024

A Service with a Partnership

bunq has joined hands with two other European companies, Ginmon and Upvest, to bring stock trading services. While Ginmon is a fintech specialising in innovative investment brokerage and wealth management solutions, Upvest provides investment infrastructure.

“By integrating our investment brokerage and managed investments with bunq’s cutting-edge app and leveraging Upvest’s robust infrastructure, we are setting a new benchmark for financial services across Europe,” said Lars Reiner, founder and CEO of Ginmon.

Established in 2012, bunq is headquartered in the Netherlands and operates across Europe with a banking licence obtained from its home country. The neobank further applied for a banking licence in the United States last year and is now awaiting approval.
It expanded into stock trading when its user base reached 14.5 million.

Earlier, Finance Magnates reported that the fintech ended 2023 with a net annual profit of €53.1 million. It is also positioned to enter the United Kingdom and has applied for an E-Money Institution (EMI) licence in the country.