Lunar a Danish challenger bank launches business bank accounts for SMEs and freelancers

Fintech Aug 22, 2020
Lunar a Danish challenger bank launches business bank accounts for SMEs and freelancers

Lunar, a 100% digital bank based in Hovedstaden, Copenhagen was founded in 2015 by Ken Villum Klausen and is a mobile-based banking app that helps consumers control their personal finances. The startup provides a plethora of financial services including insurance, savings, budgets, loans, and investments all via their mobile app.

Recently Lunar who operates a banking license, launched a brand new business account. The bank account which costs an annual fee of €265 per year (DKK 1,980), offers a Visa card and access to a number of accounting programs as well as loans and payment services via Apple Pay and Google Pay.

So far, the Nordic challenger bank has secured more than 175,000 users in Scandinavia and has offices in Aarhus, Copenhagen, Stockholm and Oslo. Lunar's plan is to offer the service in Denmark with future expansion to other Nordic countries.

Commenting, founder and CEO Ken Villum Klausen said: “There is a huge appetite for business accounts, and our ambition is to move up in segments fast. Charging an annual fee will give us the opportunity to invest in more power features, explore own business loans and cater for larger companies as well.

Glen Smale

Glen Smale is a FullStack Software Engineer & CTO @StaffCluster with 15yrs tech industry experience. He is a freelance technology Journalist and writer @Bundupress.

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