Dutch fintech Bunq has put Irish non-bank lender Capitalflow up for sale, according to market sources.
Bunq, which acquired Capitalflow in 2021, has reportedly been open to offers for the specialist business lender for several months. Non-binding offers were taken in the first half of 2026, with final bids due before the end of the year.
Bunq acquired Capitalflow in a deal worth EUR 141 million in 2021, with the backing of Pollen Street Capital, the UK-based private equity firm that had helped launch the Irish lender in 2016. The acquisition formed part of a wider EUR 193 million funding round agreed between Bunq and Pollen Street Capital, which took a 10% stake in Bunq, at the time, a record Series A investment for a European fintech.
In 2023, Bunq reportedly avoided a sale of Capitalflow after resolving a dispute with Pollen Street Capital, which had been pushing for the lender to be sold.
According to the announcement published by Business Post, a Bunq spokesperson said Ireland remained an important, fast-growing market for the company, and that it would continue to expand its presence and support for its Irish user base. Regarding Capitalflow specifically, the spokesperson said Bunq remained committed to supporting the business and would not comment on third-party statements. Neither Capitalflow nor its chief executive, Ronan Horgan, responded to requests for comment.
Business scale and recent expansion
Capitalflow, established in 2016, manages a lending portfolio of approximately EUR 1.2 billion and employed 81 people as of 2024, the most recent year for which accounts are available. The lender has advanced more than EUR 2 billion in loans since its founding and has said it intends to grow its workforce to 150 people by 2028. In April 2026, Capitalflow announced plans to enter the buy-to-let mortgage market through a broker-led product, after securing a retail credit licence from the Central Bank of Ireland.
Bunq has said its Irish user numbers grew by 50% over the 12 months to 2026. The fintech has also filed for banking licences in the US and Mexico within the past six months, a step that carries substantial capital requirements.
Wider consolidation in Ireland's non-bank lending sector
A potential sale of Capitalflow would add to a series of ownership changes in Ireland's non-bank lending market. Pepper Advantage, the loan servicing provider owned by JC Flowers, recently agreed to acquire Irish mortgage provider Dilosk for an undisclosed sum. Finance Ireland, Ireland's largest non-bank lender and owned by US-based investment firm Pimco, has also held sale talks in recent times, having been approached separately by PTSB and Bawag. Billy Kane, Finance Ireland's chief executive, has said the firm is seeking to pivot and pursue acquisitions of its own within the non-bank lending sector.
