Lunar CEO & Founder, Ken Villum Klausen | Image credit: Lunar
Danish fintech company Lunar announced that it has raised €70M in a Series D-2 funding round from existing investors Heartland, with participation from Kinnevik, Tencent and IDC Ventures.
The latest funding round is an extension to Lunar’s €210M Series D in July, 2021, bringing the Series D round total to €280M.
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Fund utilisation
The company says it will use the funds to continue its M&A activity.
Ken Villum Klausen, founder and CEO of Lunar, says, “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.”
Launched crypto platform
Lunar has also launched a blockchain arm and a Nordic crypto platform to make crypto trading hassle-free for Nordic consumers, says the company. Users can buy and sell Bitcoin, Ethereum, Cardano, Polkadot, and Doge in the Lunar app.
Klausen says, “It’s a hassle for Nordic consumers to use multiple platforms for their needs, and we are excited to bring crypto to our universe of banking, payments, and investments. The future of money is embedded, web3, in the metaverse and whenever you need it. With Lunar Block we will explore how both crypto and blockchain technology can benefit our customers to enter the next level of payments and banking.”
Lunar: What you need to know
Founded by Ken Villum Klausen in 2015, Lunar is a digital challenger bank that offers a mobile-based banking app to help consumers control their personal finances.
The company provides a range of financial services, including insurance, savings, budgets, loans, and investments via a mobile application. It provides free accounts and a subscription-based service called Lunar Premium. Lunar aims to roll out full personal and business banking operations and strive towards profitability in profitable banking markets.
In October, 2021, Lunar acquired payments platform Paylike and launched one-click checkout for its e-commerce SMBs using Lunar for business banking and expense management.
Lunar has operations in Denmark, Sweden and Norway, serving more than 500,000 users on its platform.
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