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Nordic banking app Lunar Way raises 13M TechCrunch

https://techcrunch.com/2019/02/11/lunar-way/
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Feb 11, 2019 9:27 AM 2+ mon ago

Nordic banking app Lunar Way raises ?13M

Lunar Way, the Nordic banking app that's riding new EU regulation to help inject more competition into the region, has raised EUR13 million in new funding. The round is led by SEED Capital, with participation from Greyhound Capital, Socii Capital and a number of individual investors from the financial services industry.

It also comes shortly after Lunar Way announced it had attained a PISP payments license, meaning that the fintech can offer a more comprehensive banking feature-set, including making payments out of third-party bank accounts on a user's behalf.

This, says Lunar Way founder Ken Villum Klausen, also paves the way for the startup to crack open the "Nordic clearing system monopoly," which has traditionally made it difficult for new banking entrants.

In addition, Lunar Way has a PSD2 AISP license, so that it is regulated to "co-own the transaction ...

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