Lunar, the Nordic challenger bank, is taking a step to redefine payments for enterprises by over time transitioning its Banking Services division into a new standalone entity within Lunar Group: Moonrise. This strategic move underscores Lunar’s commitment to scaling its operations and unlocking the immense potential of Banking-as-a-Service (BaaS) in the Nordics and beyond.
Press Release
Lunar Introduces Moonrise: A New Era for Enterprise Payments in the Nordics
Published Dec 06, 2024.
The European BaaS market is expected to experience explosive growth and is projected to reach 100 billion Euros by 2030, representing a growth of 230 percent over five years. Moonrise is positioned to meet the growing demand for scalable, innovative solutions. Built on Lunar’s proven infrastructure, Lunar Banking Services processes over 10,000 transactions daily and already supports €5 billion in transaction volume run rate, an increase of x5 since June 2024 supplemented by increasing demand from existing clients as they become acquainted with Moonrise’s straightforward and secure infrastructure
Moonrise will simplify financial connectivity for payment businesses, enabling seamless operations across Denmark, Norway, and Sweden through a single API. Since the launch of Lunar’s Banking Services in 2023, interest from international challenger banks and fintechs has grown significantly. To date, Lunar has established partnerships with 14 companies, including Saldo Bank, Trustly, TrueLayer, PPRO, and Currencycloud (a VISA-owned company).
By taking the first steps toward transitioning Banking Services into Moonrise, Lunar will be able to continue building on its success as a challenger bank in retail banking while empowering Moonrise to deliver enterprise payment solutions with agility and specialization. This separation ensures each business area has the independence and resources needed to capitalize on its unique opportunities.
“Moonrise marks a pivotal moment in our journey,” says Ken Villum Klausen, CEO and Founder of Lunar. “By taking the first step towards a dedicated focus through a separate entity, we can sharpen our focus on enterprise payments, scale faster, and ensure both Moonrise and our retail banking arm thrive independently. This is about meeting growing market demand from challenger banks and fintechs alike while driving meaningful transformation in the Nordic financial ecosystem.”
Accelerating innovation in the NordicsFor challenger banks and fintechs, Moonrise represents an opportunity to overcome long-standing barriers to market entry in the Nordics, empowering them to innovate and compete effectively in a region traditionally dominated by legacy institutions.
Moonrise’s launch reflects Lunar’s ambition to build a more dynamic and competitive financial ecosystem in the Nordics. By enabling major challenger banks and fintechs access to the region, Moonrise will also contribute to advancing a broader shift in consumer expectations and create a more dynamic financial ecosystem for everyone involved.
“The Nordic market is extremely profitable yet difficult to access. For decades, it has been dominated by the same players operating in a stale system. Moonrise is here to change that. By breaking down these barriers, we enable international fintechs and banks to access the Nordics. This accelerates innovation, creates a more dynamic financial ecosystem, and drives the transformation this market urgently needs. This benefits everyone – consumers, our partners, and Moonrise”, concludes Ken Villum Klausen.
About MoonriseMoonrise simplifies Nordic financial connectivity by providing seamless clearing infrastructure access to Denmark, Norway, and Sweden through a single API. Launched from Lunar’s rapidly growing Banking Services, which processes over 10,000 transactions daily and already supports €5 billion in transaction volume run rate, Moonrise is designed for payments businesses, banks, and fintechs. Its platform enables enterprise payments to scale efficiently while driving innovation and transforming the financial ecosystem in the Nordics.