Lunar and Monzo are reportedly in talks to merge

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According to reports from Bloomberg, Nordic rival Lunar and UK challenger bank Monzo are in merger negotiations.

With users across Denmark, Sweden, and Norway, Lunar is a digital bank that most recently raised EUR 35 million in February to invest in and grow the company and hasten its road to profitability. A +500% growth in revenue during the first half of 2022 coincided with Lunar’s prior raise of EUR 28 million in August 2022.

Due to insufficient money from the August funding round, the bank’s ambitions to purchase Norwegian Bank, Instabank, fell through in September of last year. This prevented the bank from obtaining the “capital needed to meet the capital requirements and obtain the approved from the Norwegian FSA.”

Read More: Monzo in talks to merge with Lunar – Bloomberg

TalkFintech Bureau
TalkFintech Bureauhttps://talkfintech.com
TalkFintech is focused on the latest financial sector technologies and tools- covering all tech used by banks, investors, insurance, and wealth management sectors- and also conversations on retail financial management tools.

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