The Nordic challenger bank Lunar has raised 350 million DKK in new capital. The funds will be used to strengthen the rapidly growing business market, develop new lending products, and expand the company’s presence in Norway and Finland
Lunar received a banking license in 2019, and last year was one of the first to receive the crypto-based MICA license from the Danish Financial Supervisory Authority.
The investment will come from both existing and new owners, and will be used to build on the current model. The company wants to take advantage of the good momentum in the corporate market for further growth, develop new lending offerings and to build a stronger presence in the Nordic region. The three areas of focus should help Lunar continue to grow and move towards profitability. At the same time, the bank will take new steps towards becoming a Nordic full-service bank.
We see clearly that our strategy is working. More and more people are opting for paid subscriptions, and we are experiencing strong growth among business customers. In January, we passed 40,000. With new capital, we can scale what already works, both in the private market and in the corporate market, while strengthening our presence in the Nordic region. We have come a long way, but the potential is even greater, and we are working purposefully to become profitable in 2026,” says Ken Villum Klausen, entrepreneur and CEO of Lunar.
The capital raising has met with considerable interest among Lunar's existing ownership circle. And is a clear signal of great confidence in both strategy and further implementation. At the same time, London-based fintech investor 100a is stepping in as a new co-owner, along with the existing investors Heartland and Orbit Alliance.
“It means a lot that our existing investors are backing us again. The fact that we are simultaneously attracting a new investor confirms that the market has faith in the direction we are moving in,” Klausen adds.
Lunar currently has more than one million users in the Nordic region, and more and more people are opting for paid solutions. The company's latest half-year results show solid growth both in the retail market and in the corporate market.
The development is driven by Lunar's own technological platform and banking license, which also underlies the Moonrise, the company's platform for payment and banking services. The platform makes it possible to develop solutions that go beyond traditional banking operations and are based on actual user behavior rather than limitations in legacy systems.
“The traditional banking model as many people know it is becoming less relevant. When we remove friction and build solutions that work seamlessly between individuals, businesses and partners, the banking experience becomes almost invisible. It's about adapting to how money is actually spent, not about forcing users to adapt to the system,” Klausen says.
