Bitcoin Platform Luno has Announced $9M Series B round
Luno has announced the launch of several new European markets. This means people from 40 countries around the world can now easily buy, sell and store Bitcoin with Luno.
At Luno, the core mission is to bring digital currencies to everyone, everywhere – and in a way that makes everyone’s journey into the world of digital currency safe, super easy and highly enjoyable. Despite the unprecedented market demand for digital currencies all over the world, there has been a surprising lack of high quality and secure, yet easy-to-use products and services in many regions, in particular Europe.
At the same time, the company is also extremely excited to announce its recently closed USD9m Series B round, led by one of Europe’s leading venture capital firms, Balderton Capital. They have known the Balderton team for many years and have been impressed with their wealth of experience in helping global businesses scale and achieve success; their experience and networks, their shared vision for the industry, and a strong alignment of values make them fantastic partners for the next stage of Luno’s journey.
The round also includes another new investor: AlphaCode, the fintech investment arm of Rand Merchant Investment Holdings (RMI). They’re a leading financial services group that has built and invested in some of the largest and most well-known financial services companies in Africa and the United Kingdom. Luno has also known RMI for many years and given their extensive experience in the financial services sector and working closely with management teams to build a number of industry-defining companies.
Their loyal supporters from day one – Digital Currency Group – also participated again in this round. All Luno’s new investors are joining their strong existing investor group which includes emerging market tech giant, Naspers, who led our USD4m Series A round, and leading Southeast Asian venture capital firm Venturra Capital.
The funding will be used to make it even easier to buy, store and learn about digital currencies like Bitcoin, in more ways and in more places. This means that Luno’s next sprint focuses heavily on improving and refining your digital currency experience, no matter who you are or where you’re from.
It also means that the company will at the very least be doubling its existing team of 70 and hiring across all units, from engineering and product to business development, customer support and compliance, across all three of its main hubs: our HQ in London, and offices in Singapore and Cape Town.
Luno (formerly BitX) is a leading global digital currency company with a team of over 40 technology and finance experts, operating across several countries and continents. Our products and services make it safe and easy for people and businesses to store, buy, use and learn about digital currencies like Bitcoin. Our vision is to empower billions of people by bringing Bitcoin to everyone, everywhere.
Source: Luno press release