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Nordic neobank Lunar snags €70 million in fresh funding

Nordic neobank Lunar snags €70 million in fresh funding

Daniosh neobank Lunar has raised €70 million in fresh capital as it prepares for the roll out of new crypto trading and B2B payments products.

The new funding round is a top up to the Nordic challenger's €210 million Series D in July last year. The firm has now raised €345 million in total and now commands a valuation just shy of €2 billion.

Lunar now counts 500,00 customers and €1.3 billion in deposits across Denmark, Sweden and Norway, with plans to move into Finland afoot.

The firm's move into business banking is also picking up steam, with 15,000 customers oboard and new payment services coming down the line.

"The new funding will enable us to keep momentum in our Nordic expansion," says
Ken Villum Klausen, founder and CEO of Lunar. "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."

For the move into crypto, users are able to trade and cash out 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."

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