Danish bank challenger Lunar raise 390m SEK

Almost two years ago, the Danish neo-bank Lunar bought Swedish Lendify. Since then, the company has raised almost 2.8 billion SEK in venture capital and has Kinnevik as one of its largest owners.

Now it’s time again when the company brings in another 39m SEK, mostly from existing investors. However, the requirements are tougher and the company must improve the pace of profitability.

In today’s market, when raising capital, the requirements to reach profitability is faster than ever before”, says Lunar’s CEO and founder Ken Villum Klausen in a press release.

“Over the past year, we have improved our product, brought in more customers and significantly improved our earnings”.

The company also mentions that they have increased its Swedish customer base by 50 percent in the last year.

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