Fintech Company Lunar Raises $77 Million, Launches Crypto Trading Platform

The Nordic-based financial technology firm – Lunar – closed a $77 million financing round. The organization reached a valuation of $2 billion and introduced a cryptocurrency trading platform.

Lunar Dives Into The Crypto Industry

The Danish company Lunar secured a $77 million Series D-2 funding round, bringing the series’ total to $310 million. The investment was led by prominent financial backers such as Heartland, Kinnevik, Tencent, and IDC Ventures.

Apart from the financing, via which Lunar surpassed a valuation of $2 billion, the firm revealed the launch of a blockchain arm and a cryptocurrency trading platform. Ken Klausen – Founder and CEO – raised hopes that the initiative will aid customers who struggle “to use multiple platforms for their needs.”

“We are excited to bring crypto to our universe of banking, payments, and investments,” he emphasized.

Initially, Lunar’s users will be able to buy and sell Bitcoin (BTC), Ethereum (ETH), Polkadot (DOT), Dogecoin (DOGE), and Cardano (ADA).

In addition, Klausen predicted that the future of money is closely connected to Web3 and the Metaverse. Lunar’s platform will explore how “both crypto and blockchain technology can benefit our customers to enter the next level of payments and banking,” the exec outlined.

Founded in 2015, Lunar stretches its services to Denmark, Norway, and Sweden. It received a European banking license in 2019 and currently has over 500,000 customers.

The Crypto Environment in Scandinavia

The Northern area of Europe, where Lunar is headquartered, is rarely in the spotlight of the cryptocurrency industry.

In Denmark, bitcoin and altcoins are allowed to be used as a payment tool, as an asset, and as a good. The government allows locals to use crypto to perform any legal activity, along with the exchanges that support it.

However, the governor of Denmark’s central bank – Lars Rohde – is not in favor of BTC. Last year, he called it “very speculative.” At the same time, he argued, “there is no stability and no guarantee from any side about the value of cryptocurrencies.”

Norway treats digital assets the same as any other income or wealth when it comes to personal tax basis. It is safe to say that some of the politicians there are supporters of the sector. For one, Norway’s Minister of Climate and Environment – Sveinung Rotevatn is a bitcoin HODLer.

Sweden, another nation part of the Scandinavian region, has directed its efforts towards launching a central bank digital currency (CBDC). Its government has already conducted some research on the matter as the e-krona is expected to see the light of day by 2026.