Luno raises $9m in fresh funding round

Luno, a digital currency firm headquartered in London, has raised $9m in its Series B funding round that was led by Balderton Capital.

Luno raises $9m in fresh funding round

Apart from Balderton Capital, AlphaCode and Digital Currency Group also participated in the fresh funding round.

The new investors join the existing investor group include Naspers, who led the $4m Series A round, and Southeast Asian venture capital firm Venturra Capital.

The firm intends to use the funds to focus on improving and refining digital currency experience and also to make it easier to buy, store and learn about digital currencies like Bitcoin.

The startup added that it will now double its existing team of 70 and hire fresh talents across all units.

People will be hired for its hubs in London, Singapore and Cape Town for units including engineering and product, business development, customer support and compliance.

Also, the company revealed that it has expanded its global footprint to total of 40 countries by launching its services in 35 new European countries.

Luno co-founder Marcus Swanepoel in a blog wrote: “A massive thanks to all our amazing customers all over the world for helping us reach this important milestone. Your support, feedback, endorsements, and overall enthusiasm for the industry and for Luno is highly energising and the ultimate reason we’re building this company for you.”