Lendify was acquired by Lunar

Lendify, a Stockholm, Sweden-based operator of a local loan platform, announced that it was acquired by the Danish startup Lunar, based out of Copenhagen.

The transaction was made in stock and has no financial details disclosed. According to unverified media sources, the deal values Lendify at SEK 1.2 billion ($143M).

Lendify, founded in 2014 by John-Christian Eriksson, developed and operates a marketplace online credit platform that enables people to borrow money and lend money from each other – without the involvement of banks.

The company, which tried unsuccessfuly to get a banking licence from the Swedish authorities, has raised more than $70 million from local investors from Sweden, including Inbox Capital, Back in Black Capital, RoosGruppen and angels Jonas Nordlander, Filip Engelbert, Anders Borg or Per Brillioth. It produces revenue of about $30 million a year, has a customer base of 40,000 people and a loan book of approximately SEK 3 billion ($360M).

Lunar, founded in 2015 as LunarWay and led by CEO Ken Villum Klausen, provides a range of financial services including insurance, savings, budgets, loans or investments via a mobile application. The company received a European banking license in 2019 and has raised $47 million at the end of 2020 and $122 million in total, from investors including Greyhound, Socii Capital, Seed Capital or Chr. Augustinus Fabrikker.