Seed Capital leads €20m series-B for digital bank Lunar

The round also saw participation from Greyhound Capital, Augustinus Fonden, Socii Capital and David Helgason, founder of video game software company Unity Technologies.  

Lunar has so far raised €46m at the series-B stage, having in August 2019 raised an initial €26m from the same investors. The company expects to use the funding to roll out new products, including loans, credit facilities and other services.

The digital bank, previously known as Lunar Way, has also appointed former Monzo head of product Ole Mahrt to its board of directors. Other board of directors include Henning Kruse Pederson, former CEO of Nykredit; Tuva Palm, former chief technology officer at Nordnet Bank and director at Klarna; Gary Bramall, chief marketig officer of Zoopla; and Lars Andersen, general partner at Seed Capital.

Previous funding
In the last series-B funding round held in August 2019, Lunar raised €26m from Seed Capital, Greyhound, Augustinus, Socii and David Helgason. According to reports, it previously raised €13m in February 2019, €4.7m in May 2017 and €4.2m in December 2016, in rounds which were also led by Seed Capital.

Company
Founded in 2015, Lunar started out as a personal finance app, but went on to acquire a full banking licence in 2019. The mobile-based bank has more than 150,000 users across Denmark, Norway and Sweden, and has offices in Aarhus, Copenhagen, Stockholm and Oslo. It employs 120 people.

People
Lunar – Ken Villum Klausen (CEO, founder).
Seed Capital – Lars Andersen (general partner).

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• SEED Capital