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London Tech Week

Monzo, Revolut’s Danish rival Lunar banks €70M and becomes crypto friendly


App-based banking has emerged in recent times as the future of digital banking. Monzo, Revolut rival from Denmark, Lunar is hitting new heights to make it easy for its customers to manage and make the most of their money. 

Now the challenger bank from the Nordics has announced a €70 million Series D-2 funding round, bringing the fintech’s total Series D to €280 million. 

Existing investors participated in the funding round following on the heels of last year’s Series D led by Heartland alongside Kinnevik, Tencent and IDC Ventures.

As per the company press release, the fintech will use the new funding to continue its M&A activity. Ken Villum Klausen, founder and CEO of Lunar, said: “We are grateful for the dedication and trust our investors have in Lunar and we will continue to invest in new ways to give more power to consumers and businesses.

New crypto trading platform and B2B payments

With the new funding, Lunar just launched a blockchain arm and a Nordic crypto platform in a bid to make crypto trading hassle-free for the Nordic consumers. 

Klausen comments, “The new funding will enable us to keep momentum in our Nordic expansion. In the first months of 2022, we launched our new Nordic crypto platform, enabled our business customers to accept and track card payments in their webshop, and we anticipate M&A activities to complement our Nordic offering.”

On Lunar Crypto, users can buy and sell Bitcoin, Ethereum, Cardano, Polkadot and Doge in the Lunar app. In October 2021, Lunar also announced the acquisition of payments platform Paylike and launched one-click checkout for it’s growing e-commerce SMBs using Lunar for business banking and expense management. Now Lunar also lets its business customers accept online payments.

Founded by Ken Villum Klausen in 2015, Lunar is a financial technology company that lets consumers and businesses handle everything money in one place. With operations in Denmark, Sweden and Norway, serving more than 500,000 users on its platform, Lunar received a European banking license in 2019.

— Press release

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