Lunar secures new capital to support Nordic expansion

Lunar, a integer slope operating crossed the Nordic region, has raised €46m ($54.8m) successful caller funding.

The institution volition usage the superior to grow its concern banking services, make lending products, and facilitate maturation successful Norway and Finland.

The backing circular included information from some long-standing and caller investors.

Among the caller backers is London-based fintech capitalist 100A, which joins existing shareholders specified arsenic Heartland and Orbit Alliance.

Lunar has implicit 1 cardinal users crossed respective Nordic countries.

It operates with its ain banking licence and infrastructure, which besides supports its payments platform, Moonrise.

Lunar CEO and laminitis Ken Villum Klausen said: “We tin spot that our strategy is working. More users are choosing paid subscriptions, and we are seeing beardown momentum successful our concern lawsuit basal reaching 40,000 concern users successful January.

“The caller superior allows america to proceed scaling what already works for user and concern banking portion expanding our footprint crossed the Nordics. We’ve already travel a agelong way, but we are focused connected unlocking a importantly larger accidental for Lunar portion reaching profitability successful 2026.”

Klausen added: “That our existing investors proceed to backmost Lunar means a large woody to us. At the aforesaid time, the involvement from a caller capitalist shows renewed assurance from the marketplace successful wherever we are heading.”

Last year, the slope introduced Lunar Youth, designed for younger users.

Lunar Youth is simply a banking app aimed astatine customers aged 7 to 17 and linked to parental accounts for oversight and guidance successful wealth management.

"Lunar secures caller superior to enactment Nordic expansion" was primitively created and published by Retail Banker International, a GlobalData owned brand.

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