Danish digital bank Lunar secures €210m Series D funding
Danish neobank Lunar has raised €210 million in its Series D funding round.
The round was led by Nordic investment firms Heartland and Kinnevik and Chinese tech giant Tencent.
IDC Ventures, Fuel Ventures, MW&L Capital Partners and Trustpilot founder and CEO Peter Mühlmann also invested.
The Series D follows Lunar’s €40 million Series C round from October last year.
Founder and CEO Ken Villum Klausen says it is the “biggest round ever from a Danish-based fintech” and comes hot on the heels of fellow Danish fintech Pleo’s $150 million funding round last week.
Founded in 2015, Lunar has offices across Denmark, Sweden and Norway and claims to serve more than 325,000 customers.
The firm started out as a personal finance management (PFM) app before securing its banking licence in August 2019.
It launched its banking platform in April 2020 and has since rolled out premium subscriptions, personal consumer loans, buy now pay later (BNPL) options and business bank accounts.
Lunar also acquired Lendify, a Swedish lending and savings platform, earlier this year to grow its consumer credit offering.
The challenger says the funds will be used to continue its growth and to launch new products.