Juni, a financial companion for e-commerce platforms, has secured $52m in funding hot off the heels from its Series A, which closed on $21m in June.
The fresh investment was led by EQT Ventures, a multi-stage venture capital firm that supports companies across the US and Europe. This investment was also supported by partners of DST Global, Felix Capital and Cherry Ventures.
With the capital, Juni will be able to build their product entirely in-house. It claims this is in contrast to traditional banking platforms, which tend to offer credit solutions from outside partners. This means Juni will be able to offer a fast, customer-centric offering.
To support this growth, the FinTech company will hire 120 more people over the next 12 months,
Based in Sweden, Juni will use the capital to triple its employee headcount and launch an “industry-first”, fully integrated credit line product to their users.
Juni was founded in June 2020 by Samir El-Sabini, Jonathan Sanders and Anders Orsedal with the mission of helping e-commerce companies grow quicker. The company is set for its initial launch, which will be in the UK market, and hopes to give clients access short-term credit.
Juni founder and CEO Samir El-Sabini said, “Everything we do is designed to make life for internet entrepreneurs easier. We’re internet entrepreneurs too, after all, and before launching Juni, we were in the industry that we cater to today! We understand their pain points and business needs in a way that traditional banking can’t, which in turn means we’re able to offer them a credit product that actually makes sense for them.”
With the close of the round, the FinTech company has raised a total of $76m in funding,
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