Marcus Swanepoel, co-founder of Luno – credit: Luno
The co-founder of Luno, Marcus SwanepoelMarcus Swanepoel, gives up his position as general manager while the crypto exchange held by DCG wants raise of capital to accelerate its development.
Portfolio application and exchange Luno announced on Thursday that the company’s co-founder and CEO is now serving as executive chairman. James Laniganthe COO of the platform, has taken on the role of Marcus Swanepoel. The two executives will continue to work closely together to “guide Luno’s vision and strategy,” according to a statement.
London-based crypto exchange acquired by conglomerate Digital Currency Group in 2020 is now looking to raise funds.
As part of this process, it has hired the independent investment firm Canaccord Genuity Group to help it attract investors. Objective: to accelerate and grow its market share but also to prepare the company for an “eventual” initial public offering.
Having first invested in Luno’s seed round in 2014, followed by an acquisition in 2020, we would like to thank Marcus for his dynamic leadership and enduring enthusiasm for the global crypto landscape as he transformed Luno into a digital asset powerhouse,” said Barry Silbert, boss of Digital Currency Group.
Earlier this year, Luno laid off more than a third of its staff due to the “turbulence” that has affected the crypto ecosystem, including its parent company DCG, in recent months.
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