Lunar creates standalone enterprise payments business

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

The European BaaS market is expected to experience explosive growth and is projected to reach €100 billion by 2030, says Lunar.

Lunar Banking Services already processes over 10,000 transactions daily and supports €5 billion in transaction volume run rate.

Now the bank is setting up the Moonrise business, promising to simplify financial connectivity for payment businesses, enabling seamless operations across Denmark, Norway, and Sweden through a single API.

The venture is hoping to help challenger banks and fintechs overcome the barriers to market entry in the Nordics, empowering them compete in a region traditionally dominated by legacy institutions.

Ken Villum Klausen, CEO, Lunar, says: “The Nordic market is extremely profitable yet difficult to access. For decades, it has been dominated by the same players operating in a stale system. Moonrise is here to change that. By breaking down these barriers, we enable international fintechs and banks to access the Nordics.”

Meanwhile, the separation is designed to ensure that Lunar can continue building on its success as a challenger in retail banking while empowering Moonrise, with each player getting the independence and resources they need.

Adds Villum Klausen: “By taking the first step towards a dedicated focus through a separate entity, we can sharpen our focus on enterprise payments, scale faster, and ensure both Moonrise and our retail banking arm thrive independently.”