Danish neobank Lunar spins out BaaS division into standalone entity named Moonrise
Danish neobank Lunar is spinning out its Banking-as-a-Service (BaaS) division into a standalone entity called Moonrise, with the aim to help challenger banks and fintechs “overcome long-standing barriers to market entry in the Nordics”.
Lunar to transition BaaS division into new standalone entity
“By taking the first step towards a dedicated focus through a separate entity, we can sharpen our focus on enterprise payments, scale faster, and ensure both Moonrise and our retail banking arm thrive independently,” comments Lunar CEO and founder Ken Villum Klausen.
Lunar has so far amassed 14 partnerships since launching the division in 2023. This most recently includes Lithuania’s Saldo Bank, which adopted Lunar’s payment infrastructure to “streamline payments and increase automation” for its customers in Sweden.
Based on Lunar’s infrastructure, the company says Moonrise will deliver “enterprise payment solutions with agility and specialisation”, and will be made available to companies through a single API integration.
Solutions at launch include Nordic payment accounts, including safeguarding and corporate accounts, and clearing infrastructure for DKK, SEK and NOK payments, according to Moonrise’s website.
This selection is aimed at helping companies innovate and compete in a region Lunar says is “traditionally dominated by legacy institutions”.
“The Nordic market is extremely profitable yet difficult to access,” continues Klausen. “Moonrise is here to change that. By breaking down these barriers, we enable international fintechs and banks to access the Nordics.”
