Lunar/Ken Villum Klausen
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Lunar raises €35m for profitability push
Fintech funding is getting a roaring start in 2023 with Lunar the latest European company to announce a major cash injection.
Danish neobank Lunar has raised €35m to help accelerate its path to profitability.
Existing investors largely contributed to the round, according to a press statement from the company. Its existing investors include Tencent, Heartland, IDC Ventures and Kinnevik.
Operating throughout the Nordic region, Lunar has 500,000 retail customers and 15,000 business customers.
"The capital markets that we and other similar companies raise money in have changed completely, with earnings now becoming the key focus. Last year we improved our product, attracted more customers, and increased our revenue streams significantly,” said founder and CEO of the Lunar Group Ken Villum Klausen.
“We will continue to do so in 2023 and the years to come because the market needs a serious challenger in the industry," he added.
Lunar last raised funding just under one year ago in March 2022 when it landed a €70m investment round.
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