Belgian banking app Cake expands to the Netherlands

By Sophie Docx

The app provides users with a single total financial overview and cashback options


Amsterdam, 28 September 2021 – Belgian banking app Cake, a bank-independent and free banking app that allows users to link multiple accounts from different banks for a total overview of their finances, today announced its launch in the Dutch market. Starting today, Dutch consumers can download the banking app that allows them to bundle bank accounts, get more control over their spending habits and earn money through the cashback program. In exchange for cashbacks and the free use of the app, users give Cake permission to use their transaction data in a bundled and anonymized way for commercial purposes. In addition, active users of the app also receive a portion of Cake’s revenue. Since its launch, Cake has paid out a total of 539,024 euros in Cake Rewards to users, which amounts to an average of 2.26 euros per user per month. The expansion to the Netherlands is a first major international step in Cake’s ambition to add greater value to the bank accounts of every European.

“We are extremely excited to introduce banking app Cake in the Netherlands today,” said Davy Kestens, Founder and CEO of Cake. “At Cake, our mission is to help users improve their financial health. At the same time, this user data gives Cake and our partners interesting insights. Through our cashback program and monthly revenue sharing, we in return provide appropriate rewards to our users. This form of reciprocity is very important to us, so that everyone gets his or her share of the eh … cake. After a successful start in Belgium, we are ready to conquer the Netherlands as well.”

Great expectations for the Dutch market

Banking app Cake was introduced in the Belgian market at the beginning of 2020. A year and a half later, the app has 121,291 users in Belgium and over 151 million transactions with a total value of over 36 billion euros have been processed by the app. Similar positive interest is expected in the Dutch market.

“The Netherlands has a strong innovative start-up culture and a great interest in emerging fintech start-ups. We therefore expect to be able to attract many Dutch people to Cake,” notes Kestens. “This interest and confidence in innovative forms of banking is already evident from the cashback partners we recently welcomed for the Dutch market, including the well-known retailer vanHaren. We will therefore continue to focus strongly on the consistent expansion of our diverse partner network.”

New banking possibilities for consumers and businesses

The moment a consumer links his or her bank account to Cake, the app can analyze and categorize all income and expenses. In this way, the app provides insight into what users spend on, for example, clothing, food and insurance, but also how much has been saved and what the available budget is. A second functionality of the app is that Cake, through commercial partners, can give users automatic cashbacks in the form of money on certain purchases.

On the other hand, Cake also offers B2B solutions, such as Cake for Business, the marketing platform that, thanks to anonymized transaction data from Cake users, offers companies unique opportunities to reach (potential) customers with promotions and to acquire accurate and real-time insights and statistics about their market, competitors and customer segments.

The Cake app will be available for download in the Netherlands from the App Store and on Google Play from Tuesday, September 28.


Cake was founded early 2019 by Belgian tech entrepreneur Davy Kestens together with 5 experienced co-founders and now employs 25 people. The start-up has a European license as a payment institution and is supervised by the National Bank of Belgium.
The free banking app Cake was launched first in Belgium in early 2020 and in the Netherlands in September 2021. The app allows its users’ bank accounts to add value by providing automatic cashbacks on purchases and revenue sharing. It also analyzes financial data to help users better understand, control and improve their finances. There are more than 120,000 users and more than half a million euros worth of Rewards have already been paid out.

With Cake for Banks, Cake offers white-labeled solutions to integrate Cake cashbacks into existing banking apps.
Cake for Business is a marketing platform that, thanks to the anonymized processing of Cake users’ purchase behavior, offers unique opportunities to reach customers with promotions and to gain accurate and real-time insights and statistics about their market, competitors and customer segments.


Sophie Docx
Head of Marketing & Communications 

Kirsten Spoelstra