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Lunar Way: AWS Startup Stories Notes from Founders Vol1

Amazon Web Services Resources EMEA

Issue link: https://emea-resources.awscloud.com/i/1146535

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14 STARTUP STORIES Notes from Founders: Lunar Way Changing the face of banking When Lunar Way launched, 80 percent of the population of Denmark had a single bank account and 60 percent had been with their provider for at least a decade. Three years on, Lunar Way is seeing real traction. The neobank has proved a hit with the Millennial generation: the average age of a Lunar Way customer is 27. With 100,000 downloads across the Nordic region and a growth rate of 15-20 percent month on month, the venture is on its way to shaking up financial services in Denmark and beyond. Problem-solver Ken Villum Klausen was frustrated by the tired and clunky banking apps ubiquitous in Denmark. After building a successful career in retail, he knew he could create a better, more consumer-friendly solution. So, in 2015, he launched Lunar Way. Ken lives with his wife and children near Lunar Way's headquarters in Aarhus. Ken Villum Klausen Founder of Lunar Way 'I've always been entrepreneurial' It sounds like a cliché, but entrepreneurship is in my blood. My parents are both entrepreneurs and that's all I knew growing up. I loved scooters and ATVs as a kid, so I would buy an ATV for $300, ride on it for a month and then (hopefully) sell it on eBay for $450. Of course, sometimes I only got $150, but that's business. Those were important lessons to learn. 'There are no bankers here' If you want to build something truly different, it's important to start from scratch. No one at Lunar Way comes from the traditional banking industry; they have retail and commerce backgrounds. There are no bankers sitting here in our office, which helps us to think differently. We've started with a blank canvas and one overarching question: 'If you were going to build a bank from scratch, how would you do that in a way that met your needs?' $1600 SOLD HIGHEST BID $450 SOLD HIGHEST BID

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