Bunq Awarded Best Financially Performing Fintech Bank in the Netherlands

Bunq tops the list as the financially best performing fintech in the Netherlands, according to a study by consultancy Aeternus. In addition to Bunq, DGN Groep, Dynamic Credit, Adyen and MultiSafepay complete the top five.

FinTech Sector Overview

The first edition of the report 'Top 25 FinTech companies in the Netherlands' offers an insight into the fast-growing and dynamic fintech landscape in the Netherlands. According to the researchers, the sector contributes more than €2,1 billion annually to the gross added value of the Dutch economy. In addition, hundreds of millions of euros flow from corporates and investors to fintech companies every year.

Fintechs are companies that combine financial services ('fin') with technology ('tech'), with the aim of making the financial sector more efficient, effective and customer-friendly. They focus on various segments, such as payments, insurance, crypto, regulations and loans.

Aeternus mapped all active fintechs in the Netherlands to come to the ranking. According to their count, there are about 900 such companies.

Assessment criteria

For all companies, the financial performance over the period 2021-2023 was analyzed using various financial performance indicators. Profitability was the main focus to avoid it becoming just a list of the largest fintechs.

A top 25 has been compiled based on KPIs such as gross profit, EBITDA and its growth over a three-year period, as well as factors such as profit per employee.

The Top 10

Bunq, founded in 2012 with the ambition to become the first fully digital bank in the Netherlands, is in first place. Thanks to several investments and acquisitions, Bunq is now the second largest neobank in Europe.

DGN Group, the parent company behind several well-known comparison websites for health insurance, energy contracts, mortgages and notary services, is in second place. With a gross profit of almost six hundred thousand per employee, the DGN Group model is very profitable.

Third place is taken by Dynamic Credit, a mortgage provider and asset manager with more than €9 billion in invested assets.

FinTech Segments

The research distinguishes between seven different segments within the fintech market: BankingTech, Crypto, InsurTech, Lending, Payments, RegTech and WealthTech.

Previous research by EY, commissioned by the Ministry of Finance, has shown that most fintechs are active in the areas of financial software and payments. Fintechs are generally quite small (two-thirds have fewer than 50 employees) and around 40% of all fintech companies are based in Amsterdam.

Frequently Asked Questions

Who is the best performing Fintech in the Netherlands?
Bunq has been named the best performing Fintech in the Netherlands.

What criteria were used to compile the ranking?
The ranking was based on various financial performance indicators, such as gross profit, EBITDA and its growth, as well as profit per employee.

In which segments of the fintech market are most companies active?
Most fintechs are active in the areas of financial software and payments.