The funding will help Juni enhance its credit card offering. Here are the top-line bullets you need to know.
Juni, a neobank for e-commerce companies, has raised $206M in a mix of debt and equity. The $100M Series B equity round drew participation from Mubadala Capital, while the $106M in debt financing was provided by TriplePoint Capital.
How’s the company performing?
- Sweden-based Juni provides a banking platform specifically designed for e-commerce companies.
- The platform offers nearly 2.4K integrations with tools used by companies for accounting, payments, and digital advertising, among other functions.
- Juni caters to companies such as Perspective Pictures, Excellent Sneakers, BidBerry, and Osaka.
- It has an office in Gothenburg, Sweden.
Source: Juni
Why does the market matter?
- The global digital banking market is expected to reach a value of $1.61T by 2027, growing at a CAGR of 8.9%, according to Research Dive.
- 3.6B individuals — roughly 1 out of every 2 adults — will use digital banking services across mobile and desktop platforms by 2024, according to Juniper Research.
- Increasing internet and smartphone adoption across the globe are driving market growth.
- Global shutdowns and branch closures amid the Covid-19 pandemic also spurred the adoption of digital banking.
