News Bitcoin platform Luno announces European expansion and $9m Series...

Bitcoin platform Luno announces European expansion and $9m Series B funding round

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Popular Bitcoin platform Luno has completed a $9m (£6.7m) Series B funding round, led by London-based Balderton Capital, and is expanding into 35 new markets across Europe.

New investors AlphaCode and existing investors Digital Currency Group also participated in the round. This follows Luno’s $4m Series A round, which was led by emerging market tech giant Naspers.

Luno currently comprises a team of over 70 and has offices in London, Singapore and Cape Town.

Luno co-founder and CEO Marcus Swanepoel said: “We’re excited to partner with Balderton as we accelerate our business across Europe and the rest of the world.

“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 a number of exciting new features to mark. Luno will be hiring across all three their main hubs in London, Singapore and Cape Town, said a statement.

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