Rand Merchant Investments (RMI), through its fintech investment arm, AlphaCode has exited its investment in Luno.
Luno is a global cryptocurrency company which enables over 5 million customers in more than 40 countries to buy, sell, and store and learn about cryptocurrencies.
Digital Currency Group (DCG), a New York-based global enterprise that builds, buys, and invests in blockchain companies, and an early investor in Luno, has bought the company. RMI has sold its stake for cash in Luno to DCG achieving an attractive price, according to the official press release.
AlphaCode is the fintech investment arm of RMI with the mandate to invest into a diversified portfolio of superior entrepreneur led, early-stage fintech focused businesses that have achieved some market traction and are poised for rapid growth. RMI is a South African investment holding company with a team of experienced, alternative thinking, financial services specialists who actively partner smart and industry-changing management teams by being a shareholder of influence.
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