The subsidiary of Digital Currency Group (DCG), Luno, is launching an early-stage investment segment that will fund fintech, crypto, and web3 startups. Building on DCG’s 7-year track record in the early stages of crypto investment, Luno wants to support 200 to 300 startups per year, broadening its focus beyond cryptocurrency into the wider fintech sector, worldwide.
Having operated in stealth mode in the last several months, Luno Expeditions has now invested in more than 20 crypto and fintech firms, including a cryptocurrency compliance solution based in Israel, a bank dedicated to women in Pakistan, a nonfungible token marketplace in the United States, and a remittance solutions provider in Tanzania.
Luno co-founder and CEO, Marcus Swanepoel, said:
“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.”
