Neobank Lunar has raised €70 million to create a cryptocurrency trading platform

Neobank Lunar has raised €70 million to create a cryptocurrency trading platform

Lunar’s new round of financing is a continuation of last year’s Series D investment. Last summer, Lunar’s neobank raised €210 million in investments to develop cryptocurrency projects. A total of €345 million was raised, bringing Lunar’s capitalization closer to €2 billion.

The Danish neobank has a customer base of around 500,000 and deposits of €1.3 billion spread across a branch network in Denmark, Sweden and Norway. Lunar plans to open a representative office in Finland in the near future.

The number of non-banking customers using business banking as their primary sales channel has grown to 30% in the last year, reaching 15,000 business accounts. Lunar aims to offer this category of customers a comprehensive service by combining traditional banking and cryptocurrency transactions.

“For any e-commerce business, it’s very important to quickly and easily accept online payments and provide customers with the ability to pay in a variety of ways. By building this solution into our business account, we are empowering new online shopping accounts from day one,” said Lunar CEO and founder Ken Villum Klausen.

For the sake of Scandinavian customers, there are plans to invest additionally in building their own trading platform for digital asset trading and b2b payments. After the implementation of the crypto-trading program, the bank’s clients will have access to operations in BTC, ETH, ADA, DOT and DOGE.

In 2021, TP ICAP, Fidelity Investments and Standard Chartered teamed up to launch an institutional platform for cryptocurrency trading, and the Binance exchange was seen looking to diversify its revenues and introduce cryptocurrencies into the real economy.

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Written by Renat
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