Luno, a subsidiary of Digital Currency Group, is launching an early-stage investment arm to back fintech and crypto/web3 startups.
Building on DCG’s seven year track record in early stage crypto investing, Luno aims to support between 200 and 300 startups a year, widening the focus beyond crypto into the broader fintech space, globally.
Operating in stealth mode over the past few months, Luno Expeditions has already invested in over 20 crypto and fintech companies, including a crypto compliance solution in Israel, an NFT marketplace in the United States, a bank dedicated to women in Pakistan and a remittance outfit in Tanzania.
Marcus Swanepoel, Luno co-founder and CEO comments: “We know how hard it is to build a company, especially in the fintech space, and with our deep experience building, scaling and operating fintech businesses in some of the hardest markets in the world, we’re looking to support a new generation of entrepreneurs from all over the world do the same.”