Digital payments firm Junio, which focuses on managing children’s pocket money, has raised $6m in a pre-Series A funding round.
According to a report from IBS Intelligence, the round was led by UAE-based firm NB Ventures with participation from The Rajiv Dadlani Group.
Offering a ‘smart card’ that allows children to make offline and online purchases, Junio aims to digitise pocket money for children.
The New Delhi-based start-up’s goal is to nurture discipline and awareness in children about how to manage money, in a fun and practical way. Parents have visibility to the spending patterns of their children, and can guide towards early lessons in money management.
Ankit Gera and Shankar Nath, co-founders of Junio said, “We have seen huge adoption of our app ever since we launched it last year. There is a strong acceptance among the parent-children community. We are now in the process of introducing new and exciting features while focusing on developing a user-friendly product. We are delighted to have our new investors on board, and thank them for their support.”
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