Denmark-based fintech Lunar has acquired Paylike, a full stack payments platform that operates across Europe.

Financial terms of the deal have not been revealed.

Founded in 2015, Paylike handles transactions of over €100m a year.

With this deal, Lunar gains a gateway that allows its business customers to receive payments from their customers without requiring an intermediary.

Lunar founder and CEO Ken Villum Klausen said: “The new level of the business is moving Lunar beyond banking and is tailored to the defensive Nordic infrastructure.

“Building a two-sided marketplace for payments connecting consumers and businesses will make life easier for everyone. Payments will be at the forefront of our next growth phase.”

Paylike co-founder and COO Lars Bo Thomsen said: “When we founded Paylike in 2015, we were on a mission to make it simpler and faster for businesses to receive payments.

“Back then, setting up a payment solution could take weeks. We launched a modern alternative that only took minutes.

“Now we are taking a big step forward by offering payments directly to the business banking account. That’s fintech at its best.”

In addition to the acquisition, Lunar launched Lunar Checkout, a one-step checkout solution for its business customers.

Lunar Checkout allows online shoppers to make purchases by typing in their phone number and swiping to approve the payment without any additional information.

Lunar claimed that by leveraging the full potential of its banking license and in-depth knowledge of the customers, it developed a seamless and secure account payment method for online shoppers.

In July, Lunar raised €210m through a Series D funding round that was led by Heartland. Among the other investors who took part in the round included Kinnevik and Tencent.

Lunar caters to over 350,000 consumers and businesses across the Nordics.