Nordic challenger bank Lunar announced on Friday it secured an additional €20 million through its extended Series B, bringing the funding round’s total amount to €46 million raised. Seed Capital Denmark reportedly led the investment round with participation from Greyhound, Socii, and Augustinus.
Founded in 2015, Lunar claims to be a digital that has a vision to build a financial super app bundling all services essential for users.
“We make things easier for more than 150,000 users in the Nordics every day. Get a sleek card and account for free and manage with the neatest tools. We don’t believe we are the best at everything – that’s why we team up with partners providing the best products, so users can tailor the experience to their needs.”
Lunar recently launched its new banking service in March after acquiring its banking license in 2019 and the banking group offers free accounts and a subscription-based service called Lunar Premium. Lunar shared with TechCrunch habit is planning to launch new financial products such as credit facilities, loans, and sustainability-driven services. Speaking about the investment round, Ken Villum Klausen, CEO and Founder of Lunar shared with the media outlet that he and his team are pleased about the results of the funding round and to bolster Lunar’s “pan-Nordic” play.
“We have a vertical strategy focusing only on the Nordics, allowing us to go deep into the defensive banking infrastructure.”
Lunar will use the funding to continue the growth and expansion of its digital banking platform. The company added that Ole Mahrt, Monzo’s former head of product, will also be joining its board of directors.