27. december 2019

Lunar’s 2019 in review

There is no doubt that 2019 was Lunar’s year. And 2020 doesn’t look like it’s going to be any different. We’re already gearing up for a new decade, but before we jump in, let’s take a look at the year in review: 2019 in Lunar.


2019. What a year! 

Well - to be honest - every year has been a whirlwind one for Lunar since we first started out in 2015. 

But 2019 was something else. 

We covered some massive ground, made a little history along the way and showed that we can challenge the banking industry.

Without further ado, let’s dive into 2019 at Lunar.

Got our own banking license

It’s safe to say that the biggest achievement of 2019 was Lunar getting our very own European banking license.

We even made it to the history books as the first fintech in Denmark to get one.

Even though we’ve worked hard these last few years getting the license is really only just the beginning. The real journey starts now, and we’re already busy building the best Nordic bank from scratch.  

We’ll keep our future plans a secret a little while longer, but we can’t wait to show you what’s in store in 2020!

Received €39 million in funding

It costs money to scale up and build the bank of the future. Lucky for us, we have many investors who believe in the Lunar vision that has helped fund our journey. 

In 2019 we had two funding rounds. The first round was finished in February and secured Lunar €13 million. The second round was completed in August. Here we got an additional €26 million to continue building Lunar. 

Thank you to all our investors for your support!

Get Lunar. Right here.

New beginnings = new name 

Since we were already shaking things up with a new banking license, what better time to change our name?

So that's what we did. 

From Lunar Way to Lunar. We also gave our brand an overhaul. We could tell you it's because we're developing from fintech to bank and wanted to sound more grown-up. 

But the truth is, we just like to keep things simple. That includes our name. Plus it has a better ring to it. Don't you think? 

We were thrilled that our users welcomed the new and improved brand. You can check it out for yourself on our website and in the app. 

Read more in this article: What we learned from changing the Lunar brand - and what you need to know when rebranding a business

Our CEO was Founder of the Year

We were beyond proud of our founder and CEO Ken Villum Klausen when he was awarded the title of 'Founder of the year' in Denmark by Nordic Startup Awards. 

Ken was nominated with some outstanding company with the founders from Cardlay, Dixa, Good Monday and ARYZE. But we think - from a completely objective perspective of course - that our founder deserved the title the most.

Thank you to all who voted for Ken!

Got a Bank CEO

In February, Lunar took our first steps toward building a bank when we welcomed Peter Smith to the team as Bank CEO of Lunar. 

Peter came from a position in traditional banking as CEO of Nordea Kredit. Not only did he have to adapt to an entirely new way of banking. He also had to adjust to a completely different type of organisation with a flat structure and start-up spirit. 

Peter was up for the challenge and got his hands full in 2019, building a new team and a bank from scratch that is both fit, proper, compliant and ready for the future of banking. 

New features and collaborations

Lunar equals tech, and we introduced an array of new features and collaborations throughout 2019. 

It’s our ambition to create a financial super app. An app where you can access, manage and get an overview of all aspects of your finances. From banking to insurance, investments and even deals and donations. 

In 2019 we showed how we believe we best achieve that dream. By doing what we do best; Create a best-in-class user experience - and collaborate with others who excel at their field of expertise. 

So in 2019, we introduced:

  • Travel insurance with Tryg, 
  • Charity with The Danish Red Cross, 
  • Lunar Invest with Saxo, 
  • Loans with Basisbank
  • Linked external accounts with Tink (read more here)
  • Integrations with Billy and e-conomic for Lunar Business
  • Business loans through Qred

All the while, building a bank, fine-tuning our existing features and products and challenging the status quo of banking by giving …

The highest interest rate in Denmark

In 2019 we wanted to give back to our users. So we introduced Payback were you could get 1-2% in return on your money. 

During campaigns, we even bumped it up to 4% making us the highest provider of % in Denmark. Without even being a bank. 

Read more:10 good reasons to give Lunar a go

Lunar launched in Norway

There is never a dull moment at Lunar. In February, we launched in Norway - making us live in all three Scandinavian countries.

Most of our efforts were focused on getting the banking license in 2019. Now that the license is in store we can start building the banking app of the future that we aim to create.

Therefore, in 2020 we'll be focused on expanding the app and building new features and collaborations for our Swedish, Norwegian and Danish users in 2020. And of course, launching a bank in all three countries. 

We can't wait!

Get Lunar. Right here.

Lunar by the numbers

We can’t be a financial app and not have some numbers in our yearly review. So here goes:

  • We now have 135.000 Nordic users. 
  • They swiped their Lunar cards 557 million times this year
  • They spent over 1 billion EUR in 2019
  • And saved over 265.000 EUR in fees by using Lunar!

It wasn’t only the users who grew by the numbers. 

Lunar grew too:

  • From two offices to four - we are now in Aarhus, Copenhagen, Stockholm and Oslo. 
  • We also welcomed a ton of new colleagues to the Lunar Team - 60 to be exact. 

We had some fun with a money gun

We might be in the serious business of turning traditional banking on its head. Still, we don't mind having fun while doing it. So, in July we made it rain by introducing our new game "Money Gun" in the Lunar app. 

Have you tried it yet? It's hidden somewhere in the app. (Pst! it might help if you tap your profile picture). 

What happens next?

In start-up land, you often reference the struggle between being the disruptive pirate while also growing into the life and structure of a navy. Having a banking license while also working to change the banking industry, this question is more apparent to us than ever. 

The recklessness, disruption, and agility that signifies the life of a pirate goes well in hand with the life of a start-up, trying to change the way we do things. Whereas the life of a navy calls for structure, planning, and overall vision. 

Lunar Way is somewhat in-between at the moment. We started out with the mentality of a pirate where disruption was the overall aim - but to only disrupt will only categorize us as destroyers. Therefore by incorporating elements of the mindset of the navy - structure and planning will be needed to build what we see as the future of banking.

It's easy to assume that with a banking license, thousands of users in Scandinavia and an award-winning app, Lunar Way is all set. That we've reached our goal.

The truth is, that's not the case.

We're still a far way from reaching our full potential. Even though Lunar has done incredible things in 4 years, we are only in the very early stages of our journey. We still have a lot of work to do before we reach our full potential and have the impact we strive for.

That's what's in store 2020. Keep working hard to reach that full potential. We've already made a head start, and we promise it will be full speed ahead from the first days of the new year. We can't wait to share all of our plans with you. 

Thanks for being with us on this journey. 

See you in 2020. 🚀 

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