Danish challenger bank Lunar is introducing joint accounts which will let the users share their account with up to ten people, Altfi reported.
Read also: Lunar, the Nordic challenger bank, raises €40m in Series C
A bank account held by more than one person, where each individual has the right to deposit and withdraw funds is a huge enhancement for many people who need to manage their funds collectively.
From now on, Lunar will let customers share their account with up to ten people. Within the account, users will be able to use emojis and add comments to purchases, making Lunar a social platform as well as a bank.
“It has been a very requested feature from our users to share accounts with their partner, but we have also seen a lot of new smaller communities flourish during covid19 as online book clubs, cycling clubs and outdoor activities. We want to support the need to share experiences with easy money management,” said Ken Villum Klausen, founder and CEO of Lunar
“Sharing your finances with others is definitely a trust exercise and we want it to be engaging and fun to share accounts and be on track with joint spending,” he added.
Lunar has recently managed to raise another €40 million. The challenger has announced it will use the cash to expand its business banking offering and its consumer credit products. Lunar has also set its sights on the “buy now, pay later” market.