Danish neobank Lunar Way has chosen Nets to deliver its payment solutions.
The start-up hopes this will accelerate its journey to challenge traditional banks in the Nordics and beyond.
The partnership will enable payments for all Lunar Way private and business users in Sweden, Denmark and Norway. In addition, Nets will provide Lunar Way with electronic signature services and assist with card fraud management.
Founded in 2015, the Lunar Way app has now been downloaded more than 130,000 times and is focusing on the Nordic region.
Thomas Jul, Head of Financial and Network Services, Nets, comments: “We are very excited to be chosen as a partner by Lunar Way. It is not every day that you enter into collaboration with a brand-new bank – and especially the kind of bank that Lunar Way is developing. New and different solutions are needed, while ensuring stability and security to ensure a great user experience for all Lunar Way customers. This is an exciting task that we look forward to working on.”
Peter Smith, CEO, Lunar Way, adds: “Nets is a leader in the payments space, both in Denmark and abroad. Together, we will look at the development of new, innovative payment solutions that fit our users’ lifestyles and needs. We look forward to offering users the stability that Nets is known for and utilising Nets’ expertise in fraud monitoring and prevention as we build our new bank.”
In August, the neobank secured a European banking licence and raised €26m ($28.9m).
In a new funding round, led by SEED Capital, the fintech received investment from both Greyhound Capital and Socii Capital.
Lunar Way hoped to use this money in order to accelerate its growth in the Danish, Swedish and Norwegian markets.
The new funding round came after the fintech raised €13m in February to expand its business in the Nordic region.