Luno, a London, UK- and Singapore-based global digital currency company, closed US$9m Series B funding.
The round was led by Balderton Capital with participation from AlphaCode, the fintech investment arm of Rand Merchant Investment Holdings, Digital Currency Group, Naspers and Venturra Capital.
The company intends to use the funds to continue to develop the technology to improve and refine the digital currency experience of its platform, expand globally following its launch across several new European markets (35 new markets in total), and double its existing team of 70 hiring across all units, from engineering and product to business development, customer support and compliance, across HQ in London, and offices in Singapore and Cape Town.
Led by CEO Marcus Swanepoel, Luno provides a platform that allows people to buy, sell and store Bitcoin and other cryptocurrencies.
After launching to build a fully-integrated Bitcoin pilot system for a major bank, over the subsequent few years the company launched consumer wallets, exchanges, and merchant services for Southeast Asian and African markets, started to build its UK presence in 2016 and now launched across Europe.
It is present in 40 markets.