- 14 March 2019
- Posted by: Cryptovalues
- Category: Companies, Cryptovalues News, World News
Upgrade the world to a better financial system.
The way people use and think about money is constantly evolving.
The existing financial system was built for a non-digital age, ignoring the needs of the modern individual and with many unnecessary inefficiencies and gatekeepers. The world now has access to new technologies like decentralised cryptocurrencies that is quickly making these old systems and ways of thinking redundant. Like communication evolving from landlines to mobile phones, or post to email, money is now finally catching up with other information revolutions.
Decentralised cryptocurrencies are enabling us to reimagine the financial system to upgrade the world to something better: Money that can be moved around cheaper, faster and safer, cutting out unnecessary intermediaries and accruing all this value to consumers. Products and services that are completely interoperable with a good balance between transparency and privacy, with a much better user experience. More effective and less restrictive and costly regulation. Money that becomes intelligent and programmable. And most importantly, a fair financial system with open and equal access for everyone.
Why is this important?
We believe in leveraging technology to make a meaningful and long term positive impact on all members of society, no matter who you are or where you’re from.
Upgrading to this new, better financial system will empower billions of people by ultimately lowering their cost of living, providing them with more and better economic opportunities, giving them easier access to the existing global online economy as well as new decentralised products and services, increase the value retention of their wealth, and overall providing more financial freedom.
When we consider the history of money and financial systems, it’s clear that transitioning to this new,
better financial system is a change that is inevitable, and people need products and services that can transition them to this new world safely.
Ultimately, upgrading people’s financial system means upgrading their lives
- Luno makes it safe and easy to buy, store and learn about cryptocurrencies, like Bitcoin and Ethereum, offering three core products:
○ Luno Wallet: Cryptocurrency conversion, storage and consumer payments
○ Luno Exchange: Professional cryptocurrency trading platform
○ Luno Enterprise: Open API’s, institutional investors, merchant integration
- Luno currently has in excess of 2.5 million customers (wallets)
○ Over 1 million app downloads
- Luno’s customer base spans 40 countries and is currently spread across three continents -Europe, Southeast Asia and Africa
- Committed to workplace diversity, Luno now has over 250 employees with 26 different nationalities, 40% of whom are female with offices in London, Singapore, Cape Town, Kuala Lumpur, Lagos and Jakarta
- Luno rebranded (from “BitX”) in January 2017 – read the Luno Brand story here
- Luno has raised over $13m in funding since launch
○ Luno’s Series A round (2015) was backed by global tech giant the Naspers Group with additional contribution by the Digital Currency Group and Venturra Capital.
○ Their Series B round (2017) was led by Balderton Capital, with additional contributions by Rand Merchant Investment Holdings and the Digital Currency Group.
Co-founded by CEO Marcus Swanepoel and CTO Timothy Stranex, Luno has raised over $13m in funding since launch in 2013 and is backed by global tech giant the Naspers Group who led their Series A round, and Balderton Capital who led their Series B round, amongst others.