Juni provides an online banking platform and app that integrates with banks and major payment providers, automating routine functions for Internet-first commerce businesses. The product offers features including 1% cashback on business expenditures, integrated accounting stacks, and zero FX fees on multi-currency accounts. Juni says it empowers digital entrepreneurs to scale by simplifying ad spend and invoice management. The company plans to launch an industry-first, fully integrated credit line product built entirely in-house to serve e-commerce businesses with short-term credit. Proceeds from the recent financing will be used to triple its workforce; Juni plans to hire 120 employees in the next 12 months to accelerate its credit team and product development. Founded in 2020, Juni reports rapid traction including an almost 500% month-on-month increase in transaction volume from March to May 2021, a weekly average growth rate of ~80%, and over 250 customers who have ordered and started using a card. Juni builds a vertical neobank tailored to e-commerce businesses, offering banking, credit cards, capital-advance/cash-back products, accounting and analytics optimized for online retailers. The platform integrates with roughly 2,400 third-party tools used for accounting, advertising and payments. Juni has shifted its focus from a broader remit that included digital marketers to concentrate specifically on e-commerce companies and their marketing needs. The company says growth has been “multiple hundred percent” since launch, though it does not disclose customer counts. Debt financing will be used to fuel its credit products and help customers manage volatile cash flows. Juni was founded in 2020 and launched in 2021 in Gothenburg, Sweden. Juni offers banking and financial tools tailored to online merchants, providing a unified view of ad networks, payment gateways and bank accounts to derive cashflow and return-on-ad-spend insights. The product includes payment cards with high spending limits and customer support staffed by people with e-commerce experience. Juni launched publicly only three months before this raise and has rapidly onboarded customers from a waitlist, reaching over 300 signed businesses and a waitlist of about 3,000. The company reports customer growth of around 500% month-on-month in its early life. Juni plans to expand its product set to include more credit products and other services to keep cash flowing for merchants. The team leverages founders’ e-commerce and fintech backgrounds to address merchant-specific banking pains. Juni is a Swedish pre-launch startup building a banking app and platform for e-commerce and online marketing entrepreneurs. The product offers a debit card with cashback on advertising spend, cash-flow management, invoice and bank-statement matching, liquidity management, and a dashboard that centralizes bank accounts, networks and payment services. Juni plans a full launch in early 2021 and is accepting waitlist signups with an open beta promised soon. The company was founded by Samir El-Sabini and Anders Orsedal and currently leverages Banking-as-a-Service provider Railsbank and other fintech partners rather than a bank license. The team says it may pursue a full bank license in 5–7 years but is focused on building functionality on top of core banking today. Juni’s business model centers on interchange fees (net of cashback), subscription fees, and credit products as revenue streams. Financially, Juni has raised just over €2.1 million in seed funding.

Total raised

$278M

Funding rounds

5

Latest round

Series A

Latest activity

Mar 2024