Lunar Bank set to acquire veteran fintech, Lendify
Lendify, a veteran Swedish digital lender, is being bought by Lunar, a Danish digital bank, Sifted has learned.
The acquisition comes after a difficult 2020 for alternative lenders like Lendify. In particular, the startup saw its application for a credit licence rejected — dunking hopes of a public listing and a more competitive lending model — as well as the departure of its founder.
Sources close to the Lendify, which has become a household name in its native Sweden, said the sale was slightly north of “€100m”, and had largely been purchased in Lunar equity (rather than cash). For context, Lendify was last valued at $1bn.