Dutch digital bank Bunq is reportedly looking for “digital nomads” to hire as it seeks to add over 700 employees to its current headcount.

According to a CNBC report, the FinTech is looking to expand its presence across a range of countries including the UK and the US, where it’s currently applying for local licences.

Last year, the firm submitted an application for a federal banking license in the US.

In the UK, Bunq is awaiting a decision from financial regulators on an application to become a licensed e-money institution, or EMI.

As it seeks to establish its business in new locations where other large FinTechssuch as Revolut and Monzo currently operate, it will need an increase its workforce to establish and strengthen its presence.

“Bunq foucuses on digital nomads who tend to roam the world,” Bunq chief executive and co-founder Ali Niknam told CNBC.

“We’d love to be able to service our users wherever they go — given the regulatory environment we’re in, this results in us having to have a lot of extra people to make this happen,” Niknam added.

As it looks to increase its team to over 70 per cent of its current size, the firm wants to expand its departments with a particular focus on sales and business development, product marketing, PR, affiliate marketing, and market analysis, as well as user support, development, and quality assurance.

According to the firm, many of these roles could be filled by “tailored digital nomads” that could be located in different parts of the world.

Digital nomads are people who travel freely while working remotely using technology and the internet, and they usually cover a different range of positions, including programmers, content creators, designers and developers.

However, many of the new hires would be working at its offices in Amsterdam, Sofia, Istanbul, Munich, Paris, Dublin, Madrid, London, and New York City.

The news comes after many FinTechs cut jobs over the past 12 months, including Coinbase and PayPal, which terminated the employment of over 950 and 4000 people respectively.

Several other FinTechs, such as Swedish BNPL firm Klarna, have reduced their workforce amidst AI implementations that have replaced a range of positions in marketing and customer service.

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