Nordic neobank Lunar Way raises EUR13m

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Danish neobank Lunar Way has raised EUR13 million in a funding round led by Seed Capital and joined by Greyhound Capital, Socii Capital and individual investors.

App-based Lunar is promising to bring slick, digital banking services to millennials across the Nordics, while outsourcing the regulatory hassle to partners.

Late last year it moved into Sweden and plans to launch in Norway by the end of 2019, offering users a basic account, money transfers, bill payment, budgeting tool and credit lines.

In December, the startup was awarded a Pisp payments license, adding to a PSD2 Aisp licence, enabling it to take advantage of Europe’s new open banking rules and access customer data at other institutions.

Lunar Way CEO Ken Villum Klausen tells TechCrunch that the firm is getting more than 10,000 downloads a month and will use the new funding to accelerate this growth, particularly outside of Denmark.

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