Lunar , the Nordic challenger bank that started out life as a personal finance manager app (PFM) but acquired a full banking license in 2019, has raised €40 million in Series C funding from existing investors. The injection of capital follows a €20 million Series B disclosed in April this year and comes on the back of Lunar rolling out Pro paid-for subscriptions — similar to a number of other challenger banks in Europe — personal consumer loans, and the launch of business bank accounts in August. The latter appears to have been an instant success, perhaps proof there is — like in the U.K. — pent up demand for more accessible banking for sole traders. […] Nordic challenger bank Lunar adds €20M to its Series B I’m also told that Lunar has seen “best-in-class” user engagement with users spending €1,100 per month versus what the bank says is a €212 EU average for card transactions. […] It plans to launch its banking app in Finland in the first half of 2021.
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