With the participation of the major outgoing investors from Lunar in the most recent round, the bank has raised a total of EUR50.9 million in the last four months.

It happens as Lunar gets ready to transform its basic package into a full-service bank in Sweden for both business and consumer clients.

In Norway, where a 2022 plan to purchase local lender Instabank for EUR132 million failed due to capital criteria needed to receive approval from the Norwegian FSA, the company has had greater difficulty building a name for itself.

Legal action was taken, and Lunar was not first successful in getting her case heard.While awaiting further steps, the company has appealed and is concurrently bolstering its capital position as per the plan approved by the Danish Financial Supervisory Authority.

Ken Villum Klausen, CEO of Lunar, affirms, "We're on track with our plans and eagerly anticipate dedicating our full attention to further expanding our business across the Nordics."