Lunar set for full-scale launch in Sweden following €24.1m capital raise
Danish neobank Lunar has raised €24.1 million to fuel the expansion of its digital banking services across the Nordics.
Lunar raises €24.1m
The latest capital raise – led by “major existing investors” – builds on a previous €26.8 million funding round closed by the Copenhagen-headquartered challenger in February and brings its total amount secured this year to €50.9 million.
Lunar states that its latest funding rounds “collectively ensure adequate capitalisation for the ongoing growth and expansion” of its offerings, with the bank expected to apply the funds to “broaden Lunar’s basic banking services to evolve into a full-service bank catering to both private customers and businesses in Sweden”, according to founder and CEO Ken Villum Klausen.
The neobank had previously launched savings accounts and peer-to-peer loans in the Swedish market in 2021.
Klausen adds that the bank’s expansion efforts are currently “on track”, with a full-scale, region-wide launch to receive “our full attention”.
Elsewhere, the neobank also continues to develop its banking services unit, which launched in the Nordics in August last year and extends its banking and payments infrastructure to external partners, such as Swedish paytech Trustly, via API.
