Nordic fintech startup Lunar Way raises €26M and secures European banking license

Nordic fintech startup Lunar Way raises €26M and secures European banking license

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The Denmark-based fintech startup Lunar Way says that it delivers digital banking for the millennial generation. Seems like the company is doing rather well since it has raised €26 million in its latest funding round and has also secured a European banking license in the process.

With the fresh influx of funds and a new banking license, the startup is now aiming to hasten the development of its new Nordic bank and the growth of Danish, Swedish and Norwegian markets. The latest round of funding was led by SEED Capital.

“The funding and banking license is the preliminary culmination of years of hard work and dedication from the entire Lunar Way team. We have grown from a small startup to a fintech with close to 100 employees from Denmark, Sweden and Norway with users in all of Scandinavia – a market notoriously hard to penetrate,” says founder and CEO of Lunar Way, Ken Villum Klausen. “We’re the very first of our kind in the Nordics to get a banking license. We’ve done all this in four years. That in itself is an accomplishment. But our journey is only just starting now,” Klausen adds. 

Lunar Way is currently operational in Denmark, Sweden, and Norway. It’s employees are present in all three countries, in its offices in Copenhagen and Aarhus.

The company has also opened its first office in Stockholm and is eyeing the next one in Oslo. The newly received funding of €26 million is said to enable the company to take its next step, which is apparently to further locally establish Lunar Way while paving the way to become the top most banking app in the Nordics.

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

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