Lunar Series-B

This is the Lunar pitch deck to raise a $24m series-b in 2020.

About

Lunar is a digital challenger bank that offers a mobile-based banking app that helps consumers control their personal finances.

It provides a range of financial services including insurance, savings, budgets, loans, and investments via a mobile application. The company also operates a banking license and launched a challenger bank providing free accounts and a subscription-based service called Lunar Premium. Lunar aims to roll out full personal and business banking operations and strive towards profitability in profitable banking markets. Up to date, the company has raised €104 million from investors including Seed Capital, Greyhound Capital, Socii Capital and Chr. Augustinus Fabrikker. It has offices in Aarhus, Copenhagen, Stockholm, and Oslo, with a headcount of more than 180 employees.

The Copenhagen, Hovedstaden-based company was founded in 2015 by Ken Villum Klausen.

For those unfamiliar with Lunar, it is a pan-Nordic digital bank founded in 2015 in Denmark, the world’s most profitable banking scene. Its plan is to take banking in the country from “pretty good” to “much, much better.”

The company recently secured its local bank license and will soon begin to offer loans and other financial products to its 150,000 users in the Nordics.

Lunar’s chief executive Ken Villum Klausen makes no secret of the relief it’s been to close the latest round.

“We were pretty confident we would get it down but the markets are drying up,” he tells Sifted.

Now on the other side of the raise, he shares his top funding tips:

• Have strong, ongoing dialogues with your investors early on. Be fully transparent. With Lunar, even small investors have known what is happening at an operational level.
• Stick to the plan you outline. For us, that meant exclusively pursuing a regional play and only targeting the Nordics instead of going for international expansion.
• Price your company fairly. Without giving you our valuation (!), we did not pursue the inflated fintech prices we see today.
• Keep your current investors close. And if you need to, look for alternative ways to raise capital. For example, venture debt or community fundraising (crowdfunding).

A key feature of the round includes welcoming in two new investors. Separately, Ole Mahrt, Monzo’s former head of product, will also join Lunar on its board of directors.

Unfortunately, Klausen hasn’t been able to celebrate in person with his team due to the lockdown. So instead, the company had a “Zoom party” on Friday, including a surprise call-in from a famous Danish singer.

Funding rounds

These numbers look a little wonky around series-b. Take them with a pinch of salt.

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