COPENHAGEN, Denmark--(EON: Enhanced Online News)--Founded in late 2015, Danish banking app and startup-turned-business Lunar Way enters its next phase with funding of EUR 4.2 million from investors, the main investor being SEED Capital. By December 1st., the funding boost will help Lunar Way gain even more muscle for its mission to make everyday banking easier and faster for young Scandinavians.
With the app out of beta in November 2016, this investment marks the company’s next step into the red-hot market of smartphone-based financial solutions for 15-30 year olds.
In the Nordic countries, Lunar Way team up with local partners in each country, making it possible also to offer loans and credit to users.
“We want to change the way we bank by reengineering financial products to fit our mobile lives. We truly believe in playing to your strengths. That’s why we partner up with local incumbents who provide credits and bank know-how. And at the same time, we can develop digital solutions faster than any bank. This partnership-model even embraces national subtleties and FSA regulations,” Ken Villum Klausen, CEO at Lunar Way, says.
Ken Villum Klausen founded Lunar Way in 2015 in Denmark. Today, Lunar Way has 30 full-time employees, pairing tech, experience and design with the security of their partner bank.
Lunar Way’s investors believe in the dream of conquering the banking market with a constant flow of new ideas and future in-app services like loans or foreign currency exchange. Acknowledging the power, speed and possibilities of the smartphone, Lunar Way releases cool new features monthly giving clients a contemporary level of technology that other industries have been offering for years.
Interface resembles social media
Lunar Way’s interface resembles those of mobile apps, Spotify and Snapchat being the closest comparable. This makes the user experience faster, with focus on intuition, convenience and accessibility.
Key features include fast account set-up, easy card activation, one-touch freezing of your account, a real-time transaction feed that lets you keep track, a monthly summary of deposits and withdrawals, tracking of spent money sorted by brand or shop, saving up for a special wish with Goals, and paying bills with a photo and a swipe using Pay-My-Bill.
Available for iOS and Android.