Sweden-based Juni Raises $52m in Series A Extension
Sweden-based neobank Juni has raised $52 million in a Series A extension round, brining the total Series A funding to $73 million. Up to now, the neobank has raised around $76 million in total capital.
The extension was led by Luxembourg-based VC firm EQT Ventures, with participation from FJ Labs and other existing investors to add to the $21M already raised from their Series-A round in late June this year.
According to the official press release, Juni will utilise the new cash to triple its workforce across its engineering, commercial and marketing teams. Additionally, it will also launch an integrated credit line product, starting with an initial roll-out in the UK, with which customers will be able to access short-term credit.
“Everything we do is designed to make life for internet entrepreneurs easier,” commented Juni co-founder and CEO Samir El-Sabini.
“We understand their pain points and business needs in a way that traditional banking can’t, which in turn means we’re able to offer them a credit product that actually makes sense for them.”
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