10 things you didn’t know about Ken Villum Klausen

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Ken Villum Klausen is the founder and CEO of Lunar, a fintech start-up that is revolutionizing banking in the Nordic region. After deciding that traditional banking models weren’t meeting the needs of millennial customers, Klausen set out to create a simplified, intuitive app designed to handle all the financial needs a customer might have, from payments and savings to budget and investments. Seven years later, Lunar has over 400,000 customers and is growing day by day. Learn more about the entrepreneur with these 10 things you didn’t know about Ken Villum Klausen.

1. He started his career at Bestseller

After leaving business college, Klausen joined Bestseller, a Denmark-based clothing company responsible for brands such as ONLY, Vera Moda, Jack and Jones and Jacqueline de Yong. Klausen began his career with the company as a sales representative in 2003; Over the next five years he gradually rose through the ranks, moving as both brand manager and international manager before leaving the company for new pastures in July 2008.

Lunar may be Klausen’s latest and greatest, but it’s far from his first rodeo. He founded his first company (an online store that sold tracking devices) when he was 18 with a couple of friends from business school. His next project was Foursome Int, which he created in 2008 shortly after leaving Bestseller. In 2012, he struck again, this time with Wallmob, a fintech focused on providing wireless, cloud-based point-of-sale (POS) solutions to retail stores and businesses. In 2014, Klausen orchestrated its sale to Visma in what became the second-biggest software acquisition of the year after SAP SE bought Concur Technologies for $8.3 billion.

3. He is award-winning

Although Klausen had already been hugely successful before funding Lunar, it was Lunar who put him firmly on the map…especially when it came to juries. Since founding the neo bank in 2015, Klausen has been honored with numerous titles and awards, including being named 2019 Founder of the Year by the Nordic Startup Awards and being selected for the Berlingske Business Talent 100 in 2017.

4. He’s following in his parents’ footsteps

When Klausen was a child, his mother and father were both independent. He described his parents as having an opportunistic approach, switching from textiles to real estate and taking advantage of any field in which they saw potential. It’s an approach he’s taken himself – although he’s heavily invested in the banking industry at the moment, he admitted that in the next 8 or 9 years he will likely be looking for a new business in which to s ‘involve.

5. He thinks entrepreneurs should get work experience first

Klausen may have started his first business at the age of 18 with no prior work experience, but the business was less an attempt to become a major success and more a way to give him and his friends something to do while they were in business. school. In general, he believes it is better for people to gain business experience before starting their own business. “Obviously if you have a magic idea, a good team around you and the planets are in a straight line, then it’s just to continue. But there is something good about going out and gaining experience first,” he told imadoer.dk.

6. He didn’t always succeed

Klausen may have started his first company while still in college, but at that time it was more of a fun venture than a serious attempt at doing business. The first business he started as an adult was the clothing company Foursome Int. By this point, he had gained five years of business experience at Bestseller and believed he knew what it took to succeed in the industry. He could have done it, but unfortunately he had the misfortune to jump in just as the global financial crisis of the late 2000s hit. In 2010, the company was declared bankrupt.

7. He founded Lunar in 2015

After successfully selling Wallmob to Visma in 2014, Klausen started looking for ideas for his next venture. The result was Lunar, a Nordic fintech that takes on traditional banks with its simplified, streamlined approach to banking. Rather than building a complex network of physical branches, helplines and online banking services, Lunar has developed a simple and easy to use application through which customers can manage all their financial needs.

8. He turned Lunar into a billion dollar company

It may be less than seven years old, but under Klausen’s leadership, Lunar is already one of Europe’s most successful fintechs. In July 2021, the company raised €210 million in a Series D funding round, taking its valuation to over $1 billion and making it a member of the coveted unicorn club. According to Crunchbase, Lunar has now raised over $448 million in total, with its latest funding round in March 2022 closing at $77 million.

9. He thinks talking about ideas is the key to success.

If Klausen could offer any advice to aspiring entrepreneurs, it would be to sound out their ideas with as many people as possible. “Reverse the idea with as much as possible. Have it validated. Find someone who will do it with you – maybe someone with a bit of experience you can talk to. I myself thought it was a good idea to share with someone who has experience and knows the first steps,” he said.

10. It attracts investment from all walks of life

Since Klausen launched Lunar in 2015, it has attracted many large-scale investors, including IDC Ventures, Tencent, Heartland, and Kinnevik AB. The latest investor to come on board is Elf and Anchorman star Will Ferrell, who has not only poured funds into the company, but put his mouth where his money is by appearing in an advertisement for them. Discussing his decision to join Lunar’s Investor Council, Ferrell said, “I’m excited to be a part of Lunar’s mission to give consumers and businesses more power over their money. Nordics are smart, sexy, and tired of getting their money dirty. This is where Lunar comes in as a digital disruptor in the financial industry.

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