Amsterdam, December 1, 2021 – Management and technology consultancy BearingPoint advised Lunar, the leading pan-Nordic challenger bank, during the preparation of the Series D funding round and the add-on acquisition of Lendify with technology due diligence services and synergy analysis.
Lunar built on BearingPoint’s in-depth understanding of technology and due diligence in the field of FinTech, with BearingPoint’s dedicated global M&A team which provides a complete set of services for M&A activities, including corporate and ventures acquisitions.
“Our technology due diligence services and synergy analysis paved the way for a smooth process for Lunar when acquiring Lendify. Lunar gained a deep understanding of Lendify’s technology landscape to locate value opportunities to pursue its growth plans,” said Thomas Bagley, Partner at BearingPoint.
Lunar is the leading pan-Nordic challenger bank, founded in Denmark in 2015. It is the only cloud-native digital banking platform to have received a Nordics banking license at the time of its successful fundraising. The company is one of the fastest-growing banks in Europe, with over 325,000 customers using Lunar's financial services today. The investment round, completed with EUR 210 million in Series D equity financing, will accelerate the roll-out of Lunar's consumer-focused digital financial offering across all Nordic countries and potentially beyond.
“We are now well-positioned to continue our strong growth. It has been a pleasure to work with BearingPoint. Their framework helped us to make the most of the synergy opportunities with Lendify to underpin our long-term vision of building a digital-first financial ecosystem for both private consumers and businesses,” said Peter Andreasen, co-founder and Chief Investment Officer of Lunar.
Lunar acquired a majority stake in the Lendify platform. Lendify is a Swedish provider of consumer savings offerings valued at around EUR 300 million and with over 40,000 active savings and lending customers. It offers unsecured loans through both balance sheet financing and P2P lending. Lunar intends to expand its consumer lending offering through Lendify after launching its own "buy now, pay later" lending product. The goal is to expand Lendify's customer base to consolidate its position in the Swedish market as part of a broader Nordic expansion strategy.
BearingPoint is an independent management and technology consultancy with European roots and a global reach. The company operates in three business units: The first unit covers the advisory business with a clear focus on selected business areas. The second unit provides IP-driven digital assets and managed services beyond SaaS. The third unit is designed to explore innovative business models with clients and partners by driving the financing and development of start-ups and leveraging ecosystems.
BearingPoint’s clients include many of the world’s leading companies and organizations. The firm has a global consulting network with more than 10,000 people and supports clients in over 70 countries, engaging with them to achieve measurable and sustainable success.
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