Swedish Neobank Juni Lands $206M in Series B and Venture Debt Funding

Swedish company Juni, a neobank aimed at e-commerce entrepreneurs, has closed on $206 million in Series B and venture debt funding.

The $100 million Series B funding is led by Mubadala Capital, whose global fintech footprint includes investments in SpotOn, Brex, C2FO, WeFox, Cardless, and others. All of Juni's existing investors - EQT Ventures, Felix Capital, Cherry Ventures and Partners of DST Global - are also participating in the round.

Co-founded by CEO Samir El-Sabini and CTO Anders Orsedal in 2020, Juni is a financial management platform tailor-made for ecommerce that ties together physical and virtual cards, credit cards, accounting, analytics and digital advertising platforms, giving businesses a holistic view of their finances.

In addition to the Series B funding, Juni has secured up to $106 million in venture debt financing from Silicon Valley-based TriplePoint Capital, which has previously backed the likes of Square, Revolut, N26, and Monzo.

"We're very proud to have secured this funding in such a challenging environment," said CEO El-Sabini. "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."