Digital Currency acquires Luno

The New York-based investor will be making a significant financial commitment to help Luno expand globally, both in geographies where Luno currently does and does not operate, according to a statement.

Luno's management team will continue with the company and will become shareholders in Digital Currency. While some existing investors will also take stakes in the company, it is not clear which ones.

Digtal Currency has backed more than 160 blockchain companies including Grayscale Investments, Genesis, CoinDesk and Foundry.

Balderton Capital and Naspers could not be reached for comment at the time of publication.

Previous funding
In 2014, Digital Currency and Ariadne Capital invested in a seed round for the company.

In 2015, Payments company PayU and Digital Currency invested $4m. Later that year, Venturra Capital invested in another funding round.

Balderton led a $9m funding round for the company in 2017, which also saw participation from AlphaCode Club and Digital Currency.

Company
Based in London and with regional hubs in Singapore and Cape Town, Luno has almost 400 employees. It provides an exchange for digital currencies and digital asset education, knowledge, and investment tools for individuals in Africa, Asia and Europe. It was founded in 2013.

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• Topics
• Expansion
• UK / Ireland
• Technology
• Venture
• Balderton Capital
• United Kingdom