Neobank Lunar raises $77 million as it rolls out crypto tools

Fintech • March 10, 2022, 7:11AM EST
The Block

Nordic neobank Lunar announced a $77 million round led by Heartland on Thursday while unveiling new crypto trading tools.

The company said in a press release that the fundraise, an extension of its $210 million Series D round in July last year, will be used to maintain momentum as it rolls out crypto trading tools, a separate blockchain arm, and looks at M&A in the Nordics. 

Founder and CEO Ken Villum Klausen said in an interview with TechCrunch that adding crypto trading tools will help the startup stand out in a market where incumbent players are already digitized. Lunar will offer trading in BTC, ETH, ADA, DOT and DOGE at launch. 

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"It’s a hassle for Nordic consumers to use multiple platforms for their needs," said Villum Klausen in a statement. "We're excited to bring crypto to our universe of banking, payments and investments."

Much like Monzo and Revolut, Lunar aims to become a one-stop shop for finance. It already offers a banking services, loans, loan products like BNPL, and stock and ETF investments.

The company's new blockchain arm will explore how both crypto and blockchain technology can benefit its existing offering to customers. 

The news follows several neobanks' moves into crypto. Revolut has long offered crypto investment tools and is said to be exploring a native token. Germany's N26 is reportedly due to launch a crypto trading tool through a partnership with Bitpanda. 

About Author

Tom is a deals reporter at The Block covering venture capital, fundraises, fintech and M&A. Before joining, he was an editorial intern at the FT-backed platform Sifted where he reported on neobanks, payment firms and blockchain startups. You can reach him by email at [email protected] or Telegram @tommatsuda.