British digital bank Monzo is in early stage discussions about a potential acquisition of Nordic lender Lunar Group, a person familiar with the matter told Reuters.
Bloomberg News reported the talks earlier on Wednesday, adding that Monzo had studied other potential targets to help it expand in Europe.
Digital banking bosses have predicted a spate of deals this year, after a combination of rate hikes and investor cautionMonzo is one of Britain's highest-profile financial technology companies, with 7.4 million customers. But since its launch in 2015, it has yet to turn a full-year profit, unlike some rivals such as Starling.Denmark-based digital bank Lunar says it has 650,000 customers across its home market, Sweden and Norway.
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