By Dipo Olowookere
Luno on Tuesday announced expanding into 35 new markets across Europe, and a $9 million Series B funding round led by London-based Balderton Capital, one of Europe’s leading venture capital firms.
New investors AlphaCode and existing investors Digital Currency Group also participated in the round. This follows Luno’s $4 million Series A round, which was led by emerging market tech giant Naspers.
Luno is one of the world’s most popular Bitcoin platforms, making it easy for people to buy, sell and learn about digital currencies. With a team of over 70 and offices in London, Singapore and Cape Town, Luno services will now be available in 40 countries around the world.
“We’re excited to partner with Balderton as we accelerate our business across Europe and the rest of the world,” said Marcus Swanepoel, Luno co-founder and CEO. “In Europe we’ve seen an unprecedented demand, not just for digital currency, but also for our high-quality, secure and very user friendly products, in particular the Luno mobile apps. Enabling more people in Europe to have access to these products and services is a critical part of our mission 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”.
Tim Bunting, partner at Balderton Capital added, “The Luno team is one of the strongest in the space, and their grand vision and ability to execute has enabled them to build a global business from day one. We’re excited to be part of their journey.” He will be joining the Luno board as part of this funding round.
The funding will be used for product refinement and development, global expansion and to bring to market a number of exciting new features. Luno will be hiring across all three their main hubs in London, Singapore and Cape Town.
Adedapo Adesanya