Luno, a London-based bitcoin company, has closed $9 million Series B funding round, led by leading European VC firm Balderton Capital.
The funding round also saw participation of a new investor AlphaCode, the fintech investment arm of Rand Merchant Investment Holdings (RMI) and existing investor Digital Currency Group. Luno said that the new investors are joining its existing investor group which includes emerging market tech giant, Naspers, who led its $4m Series A round, and leading Southeast Asian venture capital firm Venturra Capital.
Luno plans to use the funding to simplify buying, storing, and learning about digital currencies like bitcoin.
“This means that our next sprint focuses heavily on improving and refining your digital currency experience, no matter who you are or where you’re from,” Luno said. “It also means that we’ll at the very least be doubling our existing team of 70 and hiring across all units, from engineering and product to business development, customer support and compliance, across all three of our main hubs: our HQ in London, and offices in Singapore and Cape Town.”
Expansion to Europe
Luno also announced its expansion to several new European markets, allowing people from 40 countries around the world can now easily buy, sell and store Bitcoin with Luno.
“From our early roots of being the first company in the world to build a fully-integrated Bitcoin pilot system for a major bank, over the subsequent few years launching consumer wallets, exchanges, and merchant services to become the market leader in Southeast Asia and Africa, starting to build our UK presence in 2016 and now finally launching across the wider Europe: we are now one giant leap closer to our goal of bringing digital currency to everyone, everywhere,” Luno added.
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