Lunar raises €40m in series-C funding

The startup, which has so far raised more than €100m, is backed by VC firms Seed Capital, Greyhound Capital, Augustinus Fonden, Socii Capital and private investor David Helgason, the founder of video game software company Unity Technologies.

The funding comes six months after Lunar raised €20m in an extended series-B round led by Seed Capital.

The company will use the proceeds to focus on building out its services across all Nordic countries, and building new consumer credit products. According to TechCrunch, the capital raise follows Lunar rolling out paid-for subscriptions, and that the fintech was now eyeing the "buy now, pay later" market.

Previous funding
According to reports, Lunar raised €13m in February 2019, €4.7m in May 2017 and €4.2m in December 2016, in rounds led by Seed Capital.

In August 2019, Lunar raised €26m from Seed Capital, Greyhound, Augustinus, Socii and David Helgason in series-B funding.  

Seed Capital in April 2020 led a €20m extended series-B funding round for the Danish digital bank. The round also saw participation from Greyhound, Augustinus, Socii and David Helgason.  

Company
Founded in 2015 and headquartered in Copenhagen, Lunar started out as a personal finance app, but went on to acquire a full banking licence in 2019. The smartphone-based bank has more than 5,000 business users and 200,000 private users across Denmark, Norway and Sweden. It has offices in Aarhus, Copenhagen, Stockholm and Oslo, and employs 150 people.

People
Lunar – Ken Villum Klausen (CEO, founder).

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• Topics
• Early-stage
• Nordics
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• Denmark
• Nordic venture
• SEED Capital