Silicon Canals
TRENDING
  • Mobility
  • AI
  • FinTech
  • Software & SaaS
No Result
View All Result
  • Home
  • News
    • COVID-19
    • Startups
    • Scaleups
    • FinTech
    • AI and chatbots
    • Travel & Mobility
    • Software & SaaS
    • Health & Medtech
    • (Crowd)funding
    • Blockchain
    • Internet of things
    • Hardware
    • Accelerators
    • E-commerce
    • Cybersecurity
    • Gaming & Virtual Reality
    • Drones
  • Features
    • Promoted content
    • How-to
    • Knowledge & Insights
    • Guest Contributions
    • Scaling-up in Europe
  • Amsterdampartner
  • Events
  • Newsletter
  • Jobs
  • About
    • Partner with Silicon Canals
    • Team
    • Contact
  • Home
  • News
    • COVID-19
    • Startups
    • Scaleups
    • FinTech
    • AI and chatbots
    • Travel & Mobility
    • Software & SaaS
    • Health & Medtech
    • (Crowd)funding
    • Blockchain
    • Internet of things
    • Hardware
    • Accelerators
    • E-commerce
    • Cybersecurity
    • Gaming & Virtual Reality
    • Drones
  • Features
    • Promoted content
    • How-to
    • Knowledge & Insights
    • Guest Contributions
    • Scaling-up in Europe
  • Amsterdampartner
  • Events
  • Newsletter
  • Jobs
  • About
    • Partner with Silicon Canals
    • Team
    • Contact
No Result
View All Result
Silicon Canals
No Result
View All Result

Danish fintech startup Lunar Way secures €13M funding to expand in Nordic countries

Editorial team by Editorial team
February 12, 2019
in News, (Crowd)funding, FinTech, Startups
0
13
SHARES
LinkedInTwitterWhatsAppFacebook

Danish fintech startup Lunar Way has raised €13 million in funding for the purpose of scaling up its business in Nordic countries such as Sweden, Norway, Finland, Denmark and Iceland.

This funding has happened after the startup achieved a major milestone of being the first company to acquire licenses such as PISP license in Denmark and AISP license which will further help in distinguishing the fintech startup as a payment institute.

 - Partner content -
Cost of software - The Software house
The cost of building software
Marek Gajda, CTO of The Software House, shares his insights on building high-quality...Show More
Marek Gajda, CTO of The Software House, shares his insights on building high-quality software. Show Less
Read more

The funding round was led by SEED Capital with Greyhound Capital, Socii Capital and many other individual investors belonging to the financial market.

Know everything about Lunar Way

Popularly known as a bank challenger, Lunar Way has expanded itself in Sweden in December 2018 and is preparing itself to launch in the Norway market by February 2019.

The fintech company made a great start in 2019 by introducing new deposit model where the users are rewarded up to 2% in returns.

Found in 2015, the fintech company is known for breaking the monopoly market on payment services. The company attained the title of payment institute, which allows users to pay their bills, transfer money and analyze their consumption through Lunar Way’s app, while the user’s money stays in his or her regular bank account.

Previously in 2016, the fintech company raised €4.2 million in a round led by SEED Capital, which also included participation by unnamed angel investors.

Where will be funds utilised?

Regarding the usage of funds, Klausen stated that the €13M investment will be utilised in the streamlining of its current products and development of its new products which will be designed according to the suitability of users living in different countries.

This funding will also be utilised in exceeding the fintech startup’s growth as well as the expansion of its banking app in countries such as Sweden, Norway, Finland, Denmark and Iceland.

Why is there a need to expand?

Regarding the need for expansion of the startup in the Nordic countries, Villum Klausen stated, “The Nordic economies are some of the strongest in the world and have some of the most stable markets. The Danes, Swedes and Norwegians are digitally native, 90% already have a mobile banking solution, and are used to handling their finances online”.

He further added, “The Nordic clearing system has a monopoly, and even though the countries share many similarities the payment infrastructures are highly fragmented along the national borders – which in turn sets high demands for security and individual and local solutions. That combined with the fact that every citizen must have a national bank account makes it difficult for other challenger banks to penetrate the Nordic market with anything else than a € account for travelling”.

He ended his statement mentioning, “Our solution sets itself apart – both in terms of design and usability – and in terms of our Nordic foundation and our understanding of the different payment infrastructures and demands for security in the Nordic nations”.

Stay tuned to Silicon Canals for more updates in the tech startup world.

EIT Digital announces Strategic Innovation Agenda to strengthen Europe’s position in the digital world

close

Want to stay on top of the latest rounds, coolest tech and hottest startups?

Subscribe to our free, daily news blast and stay up-to-date!

Check your inbox or spam folder to confirm your subscription.

 - Partner content -
Hiring during COVID Intrinsic Search
Hiring SaaS sales executives
Check out the do's and don'ts while hiring SaaS sales executives
Check out the do's and don'ts while hiring SaaS sales executives Show Less
Read more
Tags: Denmark startupsFinTechfundingstartup
Share1Tweet3SendShare5

Partner content | Work with us

Future of coding: CTOs discuss low-code versus custom code software development for their business

Why now is the perfect time to start hiring for 2021

SaaS sales in 2021: 9 predictions from an industry expert

Diversity in hiring for SaaS: the often overlooked topic of ageism

Boost your scale-up’s growth by outsourcing to these top Eastern European software development companies

Subscribe to our daily newsletter

Check your inbox or spam folder to confirm your subscription.

Breaking news from Amsterdam | Partner

11 AI leaders from Amsterdam to watch in 2021

Amsterdam-based Media Distillery uses AI to understand what’s inside video; secures €3M

These powerhouse female VCs are funding Amsterdam’s most innovative and diverse startups

Amsterdam-based WeTransfer reportedly planning a stock market flotation

Advertisement

Trending

Adobe flash
News

Adobe pulls the plug on Flash, but here’s how you can still play some iconic Adobe Flash games

January 4, 2021
Amsterdam
Amsterdam

CES 2021: Meet the 12 Amsterdam-based startups in the Dutch delegation

January 13, 2021
11 AI leaders from Amsterdam to watch in 2021
AI and chatbots

11 AI leaders from Amsterdam to watch in 2021

January 7, 2021
  • About Silicon Canals
  • Partner with Silicon Canals
  • Contact us
  • Newsletter
  • Disclaimer
  • Privacy policy
  • Terms & Conditions Silicon Canals

Silicon Canals 2014-2020 | Website: Bright Idiots

No Result
View All Result
  • Home
  • News
    • COVID-19
    • Startups
    • Scaleups
    • FinTech
    • AI and chatbots
    • Travel & Mobility
    • Software & SaaS
    • Health & Medtech
    • (Crowd)funding
    • Blockchain
    • Internet of things
    • Hardware
    • Accelerators
    • E-commerce
    • Cybersecurity
    • Gaming & Virtual Reality
    • Drones
  • Features
    • Promoted content
    • How-to
    • Knowledge & Insights
    • Guest Contributions
    • Scaling-up in Europe
  • Amsterdam
  • Events
  • Newsletter
  • Jobs
  • About
    • Partner with Silicon Canals
    • Team
    • Contact

Silicon Canals 2014-2020 | Website: Bright Idiots

X

This website uses cookies to ensure the best possible experience. We may share this information with our advertising and analytics partners. By clicking 'Accept', you agree to our use of cookies and similar technologies. More info