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Lunar Way raises €26M in funding round, secures European banking license

Denmark-based mobile banking application Lunar Way A/S raised €26 million investment in its latest funding round and secured a European banking license from the country's Financial Supervisory Authority, EU-Startups reported Aug. 21.

Lunar Way, which raised €13 million and expanded to Norway in February, will use the funds and banking license to speed up development of its Nordic bank, develop new products, and fuel its expansion in the region, the report said.

The European banking license will open up new avenues such as loans, insurance and multicurrency cards for the banking app, which already offers features such as budgeting, spending notifications, transfers, bill payment and card freezing, the report said.