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BUSINESS & ECONOMYNEWSLETTER

Bitcoin Platform Luno Expands into 35 New Markets, Gets $9million Support

Virtual currency platform, Luno on Tuesday, September 19, 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.

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.

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.

“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.”

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.

 

 

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