Swedish integrated payment solution platform Juni has raised $21.5 million. The fintech was founded in 2020, and officially launched barely four months ago. The service integrates with thousands of banks and major payment providers and automates a number of routine functions, freeing up entrepreneurs’ time to focus on growing their business instead of managing ad spend and invoices. To date, the startup has raised $23.5 million.
The Series-A funding arrives via Partners of DST Global, Felix Capital, and saw follow-on participation from Cherry Ventures and other early investors. With this fresh influx of capital, Juni aims to sustain its blistering pace through further product development and a recruiting spree.
Between March and May of this year, Juni saw a total transaction volume increase of nearly 500% month-on-month, with a weekly average growth rate of 81%.
“In just three months, Juni has already proven that it has the potential to become the next big technology solution for merchants worldwide. The product resonates strongly with their customers by solving a clear pain point and putting time back in the hands of digital entrepreneurs,” commented Felix Capital’s Joseph Pizzolato and Susan Lin. “As investors, we look for signs of ‘customer love’ and ‘digital queues’ in all our investments, and a waitlist of over 3,000 SMEs for Juni’s product is as good as we’ve seen!”
In October of 2020 Juni raised a $2.1 million seed round from Cherry Ventures, with contributions from NA-KD.com’s founder and CEO Jarno Vanhatapio, and former iZettle Chief Communications Officer Johan Bendz among others. Bendz has also joined Juni’s board alongside Klarna’s former Global Head of Compliance Niklas Thornestad.
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