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Bitcoin platform Luno has raised a $9m Series B funding round, led by London-based Balderton Capital and new investors AlphaCode. Existing investors Digital Currency Group also participated in the round.
The raise follows Luno’s USD4m Series A round, which was led by emerging market tech giant Naspers. With new money, the firm has expanded into 35 new markets across Europe, making it the world’s most popular Bitcoin platforms.
“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.”
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, making it easy for people to buy, sell and learn about digital currencies.
“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,” added Swanepoel.
Apart from global expansion, the funding will be used for product refinement and development, 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.
Tim Bunting, partner at Balderton Capital will be joining the Luno board as part of this funding round.
