Lunar Raises €210 Million in Series D Funding

Lunar, the digital challenger bank from Denmark, announced that it has raised €210 million in its Series D funding that was led by family-owned investment company HEARTLAND alongside Kinnevik, one of Europe's leading growth investors, and Tencent, a leading China-based technology company.

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The new investment was secured following a rapid acceleration in growth from both private and business customers. Lunar now serves more than 325,000 customers across the Nordics. "The capital from the Series D funding round will enable Lunar to further invest in its Nordic expansion, especially to accelerate its strong momentum and grow its business offering as well as anticipated M&A", noted Lunar in its press release.  

Ken Villum Klausen, founder and CEO of Lunar, said: "We are beyond excited to welcome investors with such valuable experience to join our next stage of growth. It's a massive step for both Lunar and Nordic banking customers. The investment underpins Lunar's long term vision of building a digital-first financial ecosystem for both private consumers and businesses."

Lise Kaae, CEO of HEARTLAND, said: "HEARTLAND is pleased to be welcomed as an investor in Lunar. The investment builds on our strategy of backing best-in-class businesses and management teams. We look forward to supporting the team in developing next generation digital-first financial services in the Nordics and beyond."