Exclusive: Lunar adds in-app mental health tool for business customers

By Aisling Finn on Thursday 11 February 2021

Digital Banking

Lunar’s SME customers now have access to meditation and yoga exercises as well as professional mental health training in the bank’s app. 

Exclusive: Lunar adds in-app mental health tool for business customers
Image source: Ken Villum Klausen/Lunar

Nordic challenger bank Lunar has expanded its business banking offering to include a mental health tool specifically tailored for entrepreneurs.

The new feature will help business owners to tackle some of the biggest issues facing small business owners currently, such as burnout and stress.

From today, Lunar’s business customers will have access to guided meditation, yoga exercises and professional mental training as well as guidance from other entrepreneurs. 

Ken Villum Klausen, founder and CEO of Lunar, said: “We realised that mental health issues are one of the biggest challenges for the entrepreneur community right now and we need to help solve that issue and raise awareness among our users.”

“The last 12 months have been extraordinary both for Lunar and our customers in terms of finding new ways of working. We have the same pains as our business customers and it was natural for us to use our own learnings as a starting point for integrating mental health support in our app.” 

The digital bank first opened its doors to business customers in August 2020 and has since attracted more than 6,500 sole traders and small business owners in Denmark.

Launched in 2015, Lunar has amassed over 200,000 personal customers and remains the only cloud-based digital banking platform to have secured a banking licence in the Nordics. 

Lunar has been steadily launching new products recently, in the hopes of becoming the go-to digital banking service in the Nordics.

In December 2020, the digital bank launched a ‘pay later’ function for its customers, taking on buy-now-pay-later-giant Klarna and giving its customers the ability to split all transactions into four instalments retroactively or postpone a payment for up to 30 days.

At the beginning of November 2020, Lunar also took its first steps into the world of joint accounts, allowing its Premium and Pro customers to share their account with up to ten people in the Lunar app.

All these product launches have been made possible by the bank’s €40m Series C it closed in October 2020, taking its total raised to date to €104m.

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