Challenger bank Lunar raises €46 million to accelerate Nordic growth

Nordic challenger bank Lunar announced a €46 million capital increase to scale its fast-growing business banking, develop its lending proposition, and support continued expansion across the Nordics.

„The €46 million investment is led by a mix of existing and new shareholders and will accelerate momentum in business banking alongside the build-out of lending and expansion into Norway and Finland. Together, these priorities enable Lunar to pursue growth and profitability in parallel as it continues to scale its role as a Nordic full-service bank.” – the bank explained.

“We can see that our strategy is working. More users are choosing paid subscriptions, and we are seeing strong momentum in our business customer base reaching 40,000 business users in January. The new capital allows us to continue scaling what already works for consumer and business banking while increasing our footprint across the Nordics. We’ve already come a long way, but we are focused on unlocking a significantly larger opportunity for Lunar while reaching profitability in 2026,”  said Ken Villum Klausen, founder and CEO of Lunar.

1 million and beyond

Today, Lunar serves more than one million users across the Nordics, with a steadily increasing share choosing paid products. In its most recent half-year results, Lunar reported strong growth across both consumer and business customers. 

With its own banking licence and proprietary infrastructure, Lunar also underpins Moonrise, its payments and banking services platform. This foundation positions Lunar to capture broader opportunities beyond consumer and SME banking, while enabling faster execution, continuous simplification, and products built around real user behaviour rather than legacy systems.

“Banking is moving toward becoming something that operates quietly in the background. By removing friction and building systems that scale seamlessly for consumers, businesses, and partners, banking becomes more invisible and more agentic – adapting to how money is used rather than forcing users to fit the system,” said Ken Villum Klausen.