Lunar announces offer to buy all shares of Instabank
Nordic fintech and financial challenger Lunar continues its Nordic expansion and makes a cash offer of €132m to acquire all shares of Norwegian digital bank Instabank.
Founded in 2016, Instabank today serves more than 60,000 customers in Norway, Finland and Germany with both secured and unsecured loans and savings.
This acquisition will significantly increase Lunar’s footprint in Norway and additionally open the door to the Finnish market ahead of launching its full product offering.
If the shareholders accept Lunar’s offer to acquire Instabank, Lunar's position as the leading financial challenger across banking, payments and investments in the Nordics will be cemented.
Earlier this month Lunar announced a new €70 million Series D-2 funding, launched B2B payments for its business customers and revealed a new crypto trading platform.
More than 750,000 customers already joined Lunar and in total the fintech company raised more than €400 million in funding from investors including Heartland, Kinnevik and Tencent.
Please see the announcement to the stock exchange here :
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Lunar announces lapse of offer since regulatory approval has not been obtained.
Lunar announces that it has not been possible to obtain regulatory approval of the acquisition of the Norwegian bank, Instabank.
