Juni, a Swedish-based banking platform for e-commerce and online marketing companies, has announced plans to establish a product development hub in Vilnius, Lithuania due to its large pool of tech talent and a close-knit fintech ecosystem.
The company also plans to hire software developers, compliance officers and other specialists to fuel its expansion plans. After looking at many European locations, Juni decided that Vilnius is the best place to establish a new development hub.
“With an amazing pool of tech talent and a close-knit fintech ecosystem, Lithuania is a great location to develop our platform,”
said Samir El-Sabini, co-founder and CEO of Juni.
Juni joins more than 200 fintech companies that have already established offices in Lithuania, including Railsbank, a banking platform that Juni has a partnership with.
Juni acts as a financial companion for e-commerce and online marketing companies. The features the platform offers are tailored to the needs of digital entrepreneurs where Juni users get a VISA Platinum credit card with cashback on advertising spend, along with cash flow management, invoice and bank statement matching, and liquidity management features. The platform’s dashboard also provides a centralised overview of all bank accounts, networks and payment services.
When Juni launched a waiting list to test demand for a digital business-oriented banking platform, over 1200 companies signed up in a few weeks time. Building off the waiting list success, Juni recently raised €2 million in seed funding. Currently, the platform is in a closed beta phase and set to launch in late February 2021.
Juni currently employs 10 people, but is planning to grow at a rapid pace. In the next 12 months, the company will add 20 to 30 people to its staff, who will have the option to work remotely full-time.
Featured image credit: Edited from Pexels
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