Nordic challenger bank Lunar announced it has completed a €46 million capital increase to accelerate growth in its business banking franchise, develop a broader lending proposition, and support continued geographic expansion across the Nordics, including planned moves deeper into Norway and Finland. The company framed the financing as fuel to pursue growth and profitability in parallel, with management reiterating an expectation to reach profitability in 2026.
The raise was led by both existing and new shareholders. Lunar said the round drew strong interest from its current investor base, and added 100A, a London-based fintech investor focused on Series A and beyond, as a new backer alongside existing shareholders Heartland and Orbit Alliance. The company also noted traction in paid subscriptions and continued customer growth, highlighting that its business customer base reached 40,000 users in January and that Lunar now serves more than one million users across the Nordics.
Lunar also emphasized that it operates under its own banking license and proprietary infrastructure, positioning this as a strategic advantage for product development and scale. The company noted that the same foundation supports Moonrise, its payments and banking services platform, which it said extends Lunar’s opportunity set beyond consumer and SME banking by enabling faster execution and products designed around user behavior rather than legacy systems.
KEY QUOTES
“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.”
That our existing investors continue to back Lunar means a great deal to us. At the same time, the interest from a new investor shows renewed confidence from the market in where we are heading.”
“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.”
Ken Villum Klausen, Founder and CEO, Lunar
