Juni, a financial companion for ecommerce, has closed $206m in Series B and venture debt funding.
The company – which has only been in existence for two years – secured $100m in a Series B led by Mubadala Capital with participation from EQT Ventures, Felix Capital and Cherry Ventures included.
Juni also reeled in $106m in venture debt financing from TriplePoint Capital, which is the leader in venture funding.
Juni is a financial management platform for ecommerce that brings together physical and virtual cards, credit cards, accounting, analytics and digital advertising platforms, giving businesses a ‘holistic view’ of their finances.
According to Juni, the funding will be used to fuel ecommerce business growth through Juni’s credit card. The company wil also use the funds to support its global expansion, continue to hire world class talent and focus on building a robust product to support its ecommerce customers.
Juni CEO and co-founder Samir El-Sabini said, “We’re very proud to have secured this funding in such a challenging environment. We’re on a mission to give ecommerce businesses peace of mind by making financial management easy. I know first-hand the frustrations of running an ecommerce business and time wasted on spend management, the lack of visibility of cashflow and scaling ad campaigns.
“With this funding, we will help ecommerce businesses win by building the right insights, features and integrations while injecting capital into their marketing spend. We’re committed to building the best financial companion for ecommerce and we’re thrilled to have fantastic investors onboard who share our strategic vision.”
Earlier this year, Juni launched its new VISA credit card in the UK.
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