Lunar Way A/S Due Diligence

Run due diligence on Lunar Way A/S: check incident history and compliance and get alerts when suppliers or ownership change.

Denmark · owned by Lunar Group A/S (Denmark) · lunar.app · 17 vendors

Lunar is a Danish neobank and digital financial services company offering mobile banking, personal accounts, business accounts, and investment products to customers across the Nordic region (Denmark, Sweden, and Norway). It operates under a banking license and provides services through its app-based platform. The company was formerly known as Lunar Way before rebranding to Lunar.

Resilience scores

Disruption prediction

Lunar Way A/S: 3 critical incidents expected in the next three months, mostly based on comparable vendors: Resiliate has less than three months of Lunar Way A/S's own record at its top severity level.

Forecast estimates are rounded up to whole numbers.

No active incident reported (StatusGator, as of 2026-11-09 17:45 UTC)

11 of Lunar Way A/S's 17 vendors have incident tracking.

Technology vendors

Services catalogue

4 services in catalogue across 4 categories; runs on 17 sub-vendors.

Insights

Last updated 2026-10-11 · revision 9

17 direct vendors, 213 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Compliance

11 in-scope frameworks identified; showing 3.

PSD2 — Evidence found

As a digital bank offering payment services within the EU, Lunar Way A/S is subject to the Payment Services Directive 2 (PSD2), which regulates payment services and providers.

Evidence: https://www.lunar.app/en/personal/blog/corporate-news/connect-bank, https://www.openbankingtracker.com/provider/lunar-bank, https://tink.com/press/tink-lunar-partnership/, https://www.financemagnates.com/fintech/lunar-becomes-first-scandinavian-challenger-bank-with-new-eu-license/

Danish Anti-Money Laundering Act — Evidence found

As a financial institution operating in Denmark, Lunar Way A/S is obligated to comply with the Danish Anti-Money Laundering Act to prevent and combat money laundering and terrorist financing.

Evidence: https://www.fintechfutures.com/paytech/lunar-way-and-tink-to-the-moon-and-back-for-payments, https://finovate.com/tink-to-support-payment-initiation-pfm-for-lunar-way/, https://www.citiumtech.com/resources/psd2-register/institutions/dk-dfsa-22024-dk

ISO 27001 (source) — No public evidence

This international standard for information security management is highly relevant for a financial technology company like Lunar Way A/S to demonstrate its commitment to information security.

Financials

Three-year financials

Financial Resilience Score: 5/10

Lunar Group demonstrates improving but still fragile financial resilience as it transitions toward profitability. The company has delivered meaningful operational progress: adjusted loss before tax improved 35% in FY2025 to DKK -197.6M (within management guidance of DKK -120M to -220M), net fee income grew 33% in 2025 (and 94% in 2024), and the cost-to-income ratio improved from 1.9x to 1.5x. The Business segment grew transaction volumes 60%, and Moonrise Banking Services grew revenue nearly 2.5x in 2025, demonstrating diversification beyond retail banking. Capital and liquidity positions are robust, with a 48.2% capital ratio at end-2024, LCR of 1,140%, NSFR of 1,701%, and recent capital injections totaling over DKK 512M (DKK 30M January 2025, DKK 130M T2 Q2 2025, DKK 352.5M latest round). However, Lunar remains unprofitable with cumulative losses eroding equity from DKK 940.5M (2023) to approximately DKK 569.9M (2025), a 39% decline over two years. The FY2024 reported net loss of DKK -625.9M was impacted by DKK 334.4M in one-time costs related to the discontinued Instabank acquisition. A technical MREL regulatory breach at year-end 2024 (requirement of 71.2% / DKK 862.1M) highlights ongoing regulatory complexity across three Nordic jurisdictions. The sale of the Swedish loan book in September 2024 collapsed loans at amortised cost from DKK 1.2B to DKK 15M, significantly reducing net interest income (-7% to DKK 262.7M). Breakeven is targeted for 2026, but execution risk remains high in a competitive neobank landscape.

Key strengths: Strong capital ratio of 48.2% at end-2024 with consolidated own funds of DKK 584M, Exceptional liquidity: LCR 1,140% and NSFR 1,701%, Recent capital injections exceeding DKK 512M (2025), 35% improvement in adjusted loss before tax in FY2025, Net fee income growth of 94% (2024) and 33% (2025), Cost-to-income ratio improved from 1.9x to 1.5x, Over 1 million users across Nordics with ~10,000 new customers monthly, Diversified revenue through Moonrise BaaS (2.5x growth, VISA partnership), Diversified ownership (Kinnevik, Tencent, Brightfolk, founder vehicle)

Risk factors: Still loss-making: FY2024 net loss DKK -625.9M, FY2023 DKK -410.9M, Equity eroded 39% from DKK 940.5M (2023) to DKK 569.9M (2025), Technical MREL regulatory breach at year-end 2024, Discontinued Instabank acquisition triggered DKK 334.4M one-time costs, Net interest income declined 7% in 2024 due to Swedish loan book sale and lower rate margins, Multi-jurisdiction regulatory complexity across DK, SE, NO, Execution risk on 2026 breakeven target, Sensitivity to declining interest rate environment

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Revenue by product/service

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