Lunar and Instabank have entered into a transaction agreement on acquisitions, and the Board of Directors of Instabank has unanimously decided to recommend the offer of 3.75 per share. It values Instabank's total share capital at EUR 135 million.
Instabank, established in 2016 and listed on the stock exchange in 2020 with a market value of EUR 43.1 million, is a bank that offers consumer loans, secured loans, credit cards, and savings.
Lunar has raised a total of EUR 345 million of capital from investors and received a banking license in 2019. Lunar is established with an office in Oslo and has 70,000 customers in Norway.
In the summer of 2021, the company strengthened its position by raising EUR 191 million in Serie D financing.
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