Luno Launches Early-Stage Investment Arm to Back Over 200 Fintech StartupsMarch 17, 2022 0 comments
Luno, a wholly-owned subsidiary of Digital Currency Group (DCG), announces the launch of Luno Expeditions, a global, early-stage investment arm for fintech, crypto and web3 startups.
The investment arm will now spearhead all of DCG’s early stage investing.
The team will scale up investments targeting up to 200-300 per year globally and expand the focus beyond crypto into the broader fintech space.
In a statement to Fintech News Malaysia, its CEO, Jocelyn Cheng said that Luno Expeditions is keen to support founders building the next generation of Malaysian fintech and crypto companies.
She adds that they are aiming to invest in ambitious startups who share their goal of building a better financial system in Malaysia and globally.
Luno Expeditions has already invested in over 20 crypto and fintech companies globally, including a crypto compliance solutions platform, an NFT marketplace in the United States, a bank dedicated to women in Pakistan and a remittance solution in Tanzania.
Barry Silbert, Founder and CEO of DCG as well as Marcus Swanepoel, Co-founder and CEO of Luno, are both closely involved in the initiative and will be part of the Investment Committee.
Luno Expeditions will be led by Jocelyn Cheng, who takes on the role of CEO.
Speaking about her new role Cheng said,
“I am thrilled to join Luno Expeditions as Chief Executive. These are incredibly exciting times in cryptocurrency and the broader fintech ecosystem. We’ve got ambitious plans to build a leading fund designed around the needs of early stage founders.
It will be a privilege to work with ambitious entrepreneurs from all over the world, all intent on solving problems and building the next generation of financial service companies.”
Marcus Swanepoel, Co-founder and CEO of Luno 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.”
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