Danish neobank Lunar announced that it has acquired Paylike, a full-stack European payment platform for an undisclosed sum. With this move, Lunar gains a gateway that will make it possible for its business customers to receive payments from their clients without having to use an intermediary. The addition of Paylike will bolster Lunar’s existing business banking offering to meet the needs of its growing customer base. Lunar made the acquisition following its €210 million Series D funding round led by Heartland which was joined by investors including Kinnevik and Tencent. On top of the acquisit ..read more

Voyager Digital, a publicly-traded cryptocurrency platform in the United States, announced the acquisition of Denmark-based cryptocurrency payment platform Coinify. According to CoinDesk, the deal valued at about US$84 million in stock and cash. Under the terms of the share purchase agreement, the consideration to Coinify shareholders will consist of 5,100,000 of newly issued shares of Voyager Digital Ltd. common stock and US$15 million in cash. As part of the agreement, the company will retain US$5.5 million of cash on the Coinify balance sheet. Voyager will retain substantially all current C ..read more

Lunar, Nordic-based fintech company focused on the future of money for consumers and businesses, announced a €70 million Series D-2 funding round. It brings the Series D total to €280 million. Existing investors participated in the funding round following on the heels of last year’s Series D led by Heartland alongside Kinnevik, Tencent and IDC Ventures. Ken Villum Klausen Ken Villum Klausen, founder and CEO of Lunar, said: “We are grateful for the dedication and trust our investors have in Lunar and we will continue to invest in new ways to give more power to consumers and businesses. The ..read more

Denmark-based B2B spend management service Pleo has raised US$200 million in a Series C extension round. It now brings the company’s total Series C round to US$350 million. The round was raised at a valuation of US$4.7 billion, according to an announcement by Pleo. The company’s total funding now stands at US$427.5 million. The Series C extension was led by Coatue Management, with participation from Alkeon Capital, as well as Stripes, Kinnevik, Creandum, Founders and Seedcamp. Funding will be used to expand across 15 new European markets, including Finland, Austria, Portugal, Netherlands and F ..read more

The fintech industry in the Nordic region, which comprises Denmark, Finland, Iceland, Norway and Sweden, saw strong funding growth in 2021 with record deal amounts. Out of the ten biggest funding rounds announced this year, Sweden leads the chart with seven deals, followed by Denmark with two and Finland with one. Sweden’s buy now, pay later (BNPL) giant Klarna closed the two largest rounds but neobanking was the most represented fintech segment with big sums going towards the likes of Lunar and Northmill Bank. Other categories were also represented as well including financial management and i ..read more

Denmark’s payment provider Nets Group and PayAlly, a London-based payment services provider, have entered into a partnership for full issuing and acquiring processing services in the United Kingdom. Nets will deliver a full issuing services product suite, starting with a Card Management System based on the modular platform developed by TUUM, as well as tokenisation and access to Nets’ XPay Card Service. Nets will also deliver both issuing and acquiring payment authorisation and clearing, dispute management, fraud prevention and customer services. Rafal Andzejevski Rafal Andzejevski, CEO of P ..read more

Newly-established Danish small and medium-sized enterprise (SME) bank kompasbank announced their go-live on Mambu’s Software-as-a-Service (SaaS) banking platform. On Mambu’s cloud-native banking platform, kompasbank said that it was able to build fast and flexible customer onboarding, loan and deposit processes. The challenger bank claimed to be “the first cloud-only bank in Denmark and embraces a fully digital architecture to differentiate its service and products”. kompasbank had secured its banking license from Denmark’s Financial Supervisory Authority in March earlier this year to serve th ..read more

Nets, a payment services provider based in Denmark, has extended their long-term partnership with Estonia’s LHV Bank, while adding new issuing services for the latter’s British subsidiary, LHV UK Limited. ​The extended partnership will see Nets continue to deliver full acquiring services for LHV in Estonia, including terminal rental, payment authorisations and clearing, e-commerce capabilities, dispute management and fraud prevention. In the UK, Nets will support LHV with issuing services including CMS systems, issuer processing, tokenisation services, fraud prevention with AI, dispute and cha ..read more