Feature coming soon.

As part of our commitment to AlphaCode, our Product Team is continually working hard on adding exciting new features, along with functional improvements.

Cryptocurrency

AlphaCode invests in Luno to enable expansion across Europe

AlphaCode invests in Luno to enable expansion across Europe

Luno today announced its expansion into 35 new markets across Europe, and R120 million Series B funding round, led by London-based Balderton Capital, one of Europe’s leading venture capital firms. Rand Merchant Investments, through its fintech investment arm, AlphaCode, and existing investors Digital Currency Group also participated in the round. This follows Luno’s R60m Series A round, which was led by emerging market tech giant Naspers.

To date, AlphaCode has invested in Prodigy Finance (August 2017), Entersekt (June 2017) and Merchant Capital (June 2015).

Luno is one of the world’s most popular Bitcoin platforms, making it easy for people to buy, sell and learn about digital currencies. With a team of over 70 in offices in London, Singapore and Cape Town, Luno services will now be available in 40 countries around the world.

“We’re excited to partner with our new investors as we accelerate our business across Europe and the rest of the world,” said Marcus Swanepoel, Luno 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. 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”.

“Over the past few years, we’ve seen strong growth in digital currency awareness and adoption across both the consumer and institutional markets in South Africa. This is placing South Africa at the forefront of innovation in the global financial sector.

Swanepoel continued: “We’re very excited to partner with Rand Merchant Investments; an experienced and respected financial institution. This partnership will enable us to unlock more value for our customers in South Africa by providing products that are safe, easy to access and use, and all in a regulatory compliant manner. We look forward to working with all the key stakeholders in South Africa to grow this industry in a responsible manner where the benefits of this new technology can be realised by all.”

Dominique Collett, senior investment executive at Rand Merchant Investments added: “Luno has a high quality team in the rapidly evolving, highly disruptive bitcoin industry. We have been impressed with their ability to build a trusted, secure product and to engage with regulators globally. We think this sets them apart from many in this industry and we have no doubt we will continue to see phenomenal growth from this company.”

The funding will be used for product refinement and development, global expansion 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.

Related Articles

Join AlphaCode

Are you ready to take your fintech business to the next level?Join the growing network of fintech disruptors shaping the future of our industry.

  • Green

    Membership

    Green membership is available to aspiring financial services entrepreneurs, intrapreneurs and service providers.

    • Monthly newsletter with key industry insights, trends and news
    • Access to open networking events hosted at AlphaCode
    Join now
  • Gold

    Membership

    Our gold membership is open to financial services founders and co­founders with a full-time commitment to their businesses.

    • Access to our co­-working office space in Sandton
    • Business support services
    • Access to exclusive networking events & hosted dinners
    • Acceleration and incubation support
    • Informal mentorship from the RMIH investment team
    • Exclusive applications to competitions and conferences
    • Access to AlphaCode vetted service providers
    • Exposure to commercial opportunities
    Apply now
  • Platinum

    Membership

    Offered to high­ potential BBBEE businesses that have received enterprise development funding.

    • Free semi­-private office space for 6 months in Sandton
    • Business support services
    • Informal mentorship from the RMIH investment team
    • Access to exclusive networking events & hosted dinners
    • Exclusive applications to competitions and conferences
    • Acceleration and incubation support
    • Access to AlphaCode vetted service providers
    • Exposure to commercial opportunities within and outside the portfolio companies
  • Diamond

    Membership

    Offered by invitation only to businesses which have received growth capital investment from RMIH.

    • Receive growth capital investment from RMIH
    • Access to a co-­working office space in Sandton
    • Business support services
    • Access to exclusive networking events & hosted dinners
    • Formal mentorship from the RMIH investment team
    • Exclusive applications to competitions
    • Access to AlphaCode vetted service providers
    • Exposure to commercial opportunities within and outside the portfolio companies
    • Exclusive applications to competitions and conferences

Member testimonials

  • Alpha Code is a phenomenal platform to network with next generation fintech players offering leading thought leadership events in a world class environment. Look forward to watching the ecosystem facilitate the next ‘Uber’ of Africa.

    Dov Girnum, CEO Merchant Capital

  • Starting a business is a daunting prospect, especially one that has a focus on an unproven and experimental technology. I have benefitted enormously from the support and wisdom I have received from AlphaCode during my time as a member.

    Lorien Gamaroff, CEO Bankymoon

  • Being located in the heart of Africa's biggest financial services hub, we have gained a lot of credibility through AlphaCode. Our customers trust our brand by association, which results in increased sales of cows.

    Ntuthuko Shezi, CEO Livestock Wealth

  • AlphaCode is without a doubt the premium fintech and startup community in South Africa providing many learning, growth and network opportunities and an environment which adds concrete value to us

    Schalk Nolte, Founder Entersekt

  • Slide is now well on the way to causing significant disruption in the South African fintech sector. We would not have been able to break into the South African market so rapidly without the help provided by AlphaCode.

    Alon Stern, Founder Slide

  • AlphaCode has been instrumental in providing a platform for us to access industry thought leaders, networks, working space, coaching and ultimately the opportunity to pitch to global multi-nationals and secure funding that very few startups get to land in their first year.

    Priya Mistry, Founder CommuScore

  • AlphaCode has been instrumental in the growth of our business. Through the club, we have met many like-minded entrepreneurs and businesses with whom we have formed strategic partnerships. The team is incredibly generous with their time and continue to give us invaluable mentorship and support.

    Annabel Dallamore, CEO StriderTech