Nordic FinTech Lunar has partnered with London-based banking technology firm Thought Machine.
Lunar, founded in 2015, offers a mobile banking app to consumers in the Nordic region.
The Denmark-based FinTech said it will use Thought Machine’s banking engine, Vault, to power its offering.
The news comes after Lunar raised €210 million in a Series D funding round in July 2021.
Thought Machine recently hit a valuation of over $1 billion in a Series C funding round worth $200 million in November 2021.
“To continue scaling our service across the region, investing in the latest and best technology is a top priority for Lunar,” said Ken Villum Klausen, chief executive officer and founder of Lunar. “We searched for a core banking engine that would enable us to deliver on our product roadmap – not dictate it.”
“Thought Machine’s core banking platform, Vault, was by far the most flexible technology available in the market”.
He added: “By removing the constraints and unlocking opportunities, Vault will enable us to build targeted products and streamline workflows as we scale.”
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