The Danish FinTech startup Lunar Way has created a unique banking app and experience for customers they call the “Snapchat generation”. The company’s idea has just been supported by a €4.2 million investment from SEED Capital Denmark. It will help Lunar Way to gain more muscles for its mission to make everyday banking easier and faster for young Scandinavians.
The young FinTech company was founded in late 2015 and is based in Aarhus. The interface resembles those of mobile apps – Spotify and Snapchat being the closest. This makes the user experience faster, with focus on intuition, convenience and accessibility.
Key features of Lunar Way are the following:
- fast account set-up,
- easy card activation,
- one-touch freezing of your account,
- a real-time transaction feed that lets you keep track,
- a monthly summary of deposits and withdrawals,
- tracking of spent money sorted by brand or shop,
- saving up for a special wish with Goals,
- paying bills with a photo and a swipe using Pay-My- Bill.
The app is available for iOS and Android. Lunar Way in Nordic countries teams up with local partners in each country. This is the way how loans and credits are possible for users.
A year has passed and the startup has already 30 full-time employees, pairing tech, experience and design with the security of their partner bank.
Ken Villum Klausen, CEO at Lunar Way stated: “We want to change the way we bank by reengineering financial products to fit our mobile lives. We truly believe in playing to your strengths. That’s why we partner up with local incumbents who provide credits and bank know-how. And at the same time, we can develop digital solutions faster than any bank. This partnership-model even embraces national subtleties and FSA regulations.”
Lunar Way’s investors believe in the dream of conquering the banking market with a constant flow of new ideas and future in-app services like loans or foreign currency exchange. Acknowledging the power, speed and possibilities of the smartphone, Lunar Way releases new features monthly giving clients a contemporary level of technology that other industries have been offering for years.