Ali Niknam has built Dutch FinTech Bunq into one of the largest neobars in Europe. But he fears that the Netherlands will now drive away entrepreneurs.
The Bunq founder and CEO is alerted about the country's business mindset. He believes that risk aversion, growth of insularity and hostility to ambition talent drive in overseas.
“Many of the best entrepreneurs I know have either gone or considered to go,” Niknam told TNW.
Surveys ask him. A survey last year found that Almost each of five Dutch entrepreneurs took out a move – from almost one of eight in 2023.
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Another study showed that 24% of large companies retrospectively thought about moving abroad – almost twice as high as in the previous year.
Tech Scaleups are also thinking. One of the largest – sinking birds in the country – recently Plans announced Change operations outside the country. The company's CEO accused “over -regulation” and a bad climate for technical companies.
Niknam – who is ready to speak TNW conference On June 20 in Amsterdam – has his own criticism of the Dutch state landscape. He calls his support for entrepreneurship “the worst” that he saw. Nevertheless, he still has deep trust in the country's talent pool.
“There are very few countries that I know that they have such amazing, creative, clever people like the Dutch,” he says.
These people were an essential part of Bunq's rapid growth.
Building bridges near Bunq
Niknam's idea for Bunq was created after the 2008 financial crisis. He believes that one of the causes was played by the incumbent banks for group groups. He founded Bunq in 2012 to create an alternative.
In order to create a new approach to banking, Niknam tried to use various ideas. He refers to the company's approach that can be accepted anonymously – even on Niknam itself.
“On the one hand, this is better for the company – the best ideas win. And on the other hand, it makes it fairer, because all that matters is the quality of your idea, not the one you know where you grew up or which school you have attended.”
The strategy provided quick results. In 2015, Bunq was the first Dutch company for 35 years to receive a Greenfield Banking license. After Revolut, it became Europe's second largest Neobank and one of the few who achieved profitability. The company now has 17 million users with more than 8 billion euros in deposits.
Outside Bunq, however, Niknam sees a country that is always closed. He believes that the Netherlands leave its internationalist roots, which pests their technical ecosystem and pursues talents.
“Historically, the Netherlands was very entrepreneurial, very international … when this country withdraws and the doors closes when things worsen.”
Even the country's huge pension funds, he realizes that they avoid supporting Dutch startups. “You know that the returns will be less,” he says. “Why are the returns less? Because it is a small country and withdraws and withdraws within its own limits.”
He contrasts the mood with developments in the Baldikum. The region's technical ecosystem has awakened admiring insights into optimism, openness and fast growth. Niknam believes that many people in the Netherlands take their rights for granted.
“It may be a bit of a claim – that we have forgotten that all these wonderful things we enjoy today really, very, very hard worked,” he says.
Niknam was born in Canada as the son of Iranian parents and with houses in the Netherlands and the USA and offers a variety of cultural experiences. Image: Olsjopera
Niknam believes that the Netherlands have become risk avers and have become inwards. Despite the liberal stereotypical, Dutch society can be surprisingly conservative.
This caution, says Niknam, is embedded in culture – also in local proverbs. One reads: “Steek Je Kop niet boven het maaiveld uit.” Translated: “Don't put your head over the meal line.” If you do this, it may be chopped off.
In Niknam's eyes, this mentality thwarts ambitious entrepreneurs.
“Success is not only celebrated, they are almost to blame for being successful,” he says.
The international return
The Netherlands also lose their appeal to international talents. According to studies of the past year, over nine out of ten expats and migrant employees do not even consider in the country work.
Technology companies have expressed great concerns about the loss of access to global talents. The chip equipment maker ASML – the largest company in the Netherlands – has drawn abroad because of the hardy attitude of the country.
Peter Wenink, former CEO of ASML, who will also speak TNW conference – Recently warned of the loss of access to specialists. “If we cannot get these people here, we will get these people in Eastern Europe or in Asia or in the United States,” he said.
Nevertheless, Niknam believes that the tide can turn. In order for the change to come, he believes that the “silent majority” – those who appreciate openness and diversity must speak.
Despite her problems, Niknam remains optimistic for the future for technology companies in the Netherlands.
“People are great. The school is great. The infrastructure is great,” he says. “It simply changes the attitude and way of thinking, which can happen in a relatively short time, which makes the difference.”
If you want to catch the talks of Niknam and Wennink – or something else on the agenda for the TNW conference – we have a special offer for you. Use the Code TNWXMedia2025 at the cash register to get a 30% discount on your ticket.
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