28 May 2017
Visit cib.db.com

Lunar Way banks EUR4.2 million in new funding

12 December 2016  |  3587 views  |  0 cash

Danish neobank Lunar Way has secured EUR4.2 million in new funding led by Seed Capital Denmark, as it prepares for a full-scale launch.

Following a well-established trend started by Simple, Lunar Way is promising to bring slick, digital banking services to millennials, while outsourcing the regulatory hassle to partners.

The new bank, which is running in a beta phase in Denmark, has struck a deal with the country's largest mortgage provider Nykredit to provide the back-end processing for its banking services. The incumbent banking partner has also taken a minority interest in the startup.

Similar banking relationships have also been lined up in Sweden and Norway, the firm says, claiming that 23% of its beta users have already closed their old bank account in favour of using the startup's mobile-only service.
KeywordsFINDEX

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Nykredit invests in Lunar Way; Danish neobank to launch in Sweden and Norway

Nykredit invests in Lunar Way; Danish neobank to launch in Sweden and Norway

18 August 2016  |  5448 views  |  0 comments | 6 tweets | 4 linkedin
Neobank Lunar Way gears up for Danish launch

Neobank Lunar Way gears up for Danish launch

28 April 2016  |  6820 views  |  0 comments | 8 tweets | 6 linkedin
Neobank Lunar Way bids to conquer Northern Europe through partner model

Neobank Lunar Way bids to conquer Northern Europe through partner model

19 November 2015  |  7180 views  |  0 comments | 6 tweets | 6 linkedin

Related blogs

Create a blog about this story (membership required)
visit www.ebaday.comvisit www.events.sap.comvisit dh.com

Top topics

Most viewed Most shared
BBVA launches Open API marketplaceBBVA launches Open API marketplace
13309 views comments | 50 tweets | 79 linkedin
Bank/fintech collaboration can take transaction banking to new heightsBank/fintech collaboration can take transa...
7796 views comments | 12 tweets | 24 linkedin
R3 raises $107mR3 raises $107m
7038 views comments | 16 tweets | 16 linkedin
TransferWise launches multi-currency business bank accountsTransferWise launches multi-currency busin...
6878 views comments | 12 tweets | 20 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job