According to a press release, the cash, which is an extension of its $210 million Series D investment from July of last year, will be used to sustain momentum as the company rolls out crypto exchange capabilities, a dedicated blockchain arm, and contemplates M&A in the Nordics.
Founder and CEO Ken Villum Klausen stated that introducing crypto trading features will help the firm stand out in a field where entrenched competitors have already digitised. At the debut, Lunar will accept BTC, ETH, ADA, DOT, and DOGE.
Lunar, like Monzo and Revolut, promises to be a one-stop-shop for money. It already provides banking services, loans, lending products such as BNPL, and stock and ETF holdings. The company’s new blockchain branch will investigate how crypto and blockchain technologies may boost its existing consumer offering.
The announcement follows the entry of many neobanks into the crypto space. Revolut has long provided crypto investing tools and is said to be working on a native coin. N26, a German company, is said to be launching a crypto trading platform in collaboration with Bitpanda.