Juni

Swedish-based Juni provides banking services to online-based businesses, such as e-commerce and online marketing companies via a web portal.

The company provides digital bank accounts and VISA credit cards, both physical and virtual, for which the company provides 1.0% cashback rewards on purchases made using the card. In addition, the company also provides customers with the flexibility of deciding whether they want to have daily or monthly spending limits and also allows customers to choose which currency they want to spend in (between EUR, GBP, and US), to avoid foreign exchange fees. The platform also enables customers to link external bank accounts and other business platforms such as Shopify and PayPal to their accounts.

The company aims to minimize costs for customers and, therefore, offers its products free of charge. However, customers may be subject to certain fees on SWIFT payments and fees imposed by external bank partners such as VISA.

In addition to banking products, the platform also provides insights on how a customer’s business is performing by unifying data from all its business platforms in terms of incomes and expenditure and providing metrics such as return on ad spend. These insights can also be shared automatically with the customer’s team members or employees via platforms such as Slack. The platform also provides all customers access to dedicated account managers, who customers can reach out to for additional support.

As of July 2021, the company stated that its number of customers amounted to 300, which had grown by around 500% month on month, since its beta launch in March 2021. The company has stated that it intends to officially launch its product in 2022.

Funding and financials

In June 2022, the company raised USD 106 million in Series B funding round led by Mubadala Capital and an additional USD 100 million in venture debt from TriplePoint Capital. The company did not disclose the use of proceeds.