Bunq has reportedly agreed a €160m funding round at a €1.65bn valuation

Challenger bank Bunq is said to have closed a funding round with an undisclosed British private equity firm.

The deal is said to be for €160m at a €1.65bn price tag — a sizable jump from the group’s last €10m fundraise in 2018.

Earlier this year Bunq reached €1bn in user deposits, a doubling over the last year, and now operates in all EU countries plus the UK.

Read more: AltFi