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Digital Bank Lunar Raises $76M

Digital Bank Lunar Raises $76M
Written by Publishing Team

Digital bank Lunar has closed a $76 million (€70 million) Series D-2 funding round, the Scandinavian company said in a blog post Friday (March 11).

Lunar said the latest round brings its Series D funding to $307 million (€280 million) and will help it continue to expand across the region.

Ken Villum Klausen, the company’s founder and CEO, says the funding comes amid a busy time for Lunar.

“In the first months of 2022 we launched our new Nordic crypto platform and our business customers to accept and track card payments in their web shops, and we anticipate M&A activities to complement our Nordic offering,” he said.

Lunar began as a personal finance management solution for consumers and businesses but has evolved to provide those customers with payments, banking and investment services.

It has also recently launched a blockchain division and a crypto platform in what it says is an attempt to provide Nordic customers with easier crypto trading. Lunar Crypto lets users buy and sell bitcoin, Ethereum, Cardano, Polkadot and Doge through the Lunar app.

“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,” said Klausen.

“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.”

In October of last year, Lunar acquired payments platform Paylike and launched one-click checkout for its eCommerce small- to medium-sized businesses using Lunar for business banking and expense management.

See also: Digital Bank Lunar Snags Payments Platform Paylike

And in January of this year, the company announced it had decided banking tech Thought Machine to update its system and create new services. The partnership uses Thought Machine’s core banking engine Vault, with Vault’s cloud-native nature helping Lunar benefit from scalability and adaptability.

Read more: Nordic FinTech Lunar to Update Its Core Banking System With Cloud Tech



About: Forty-two percent of US consumers are more likely to open accounts with FIs that make it easy to auto-share their banking details during sign-up. The PYMNTS study Account Opening And Loan Servicing In The Digital Environmentsurveyed 2,300 consumers to examine how FIs can leverage open banking to engage customers and create a better account opening experience.

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