Juni, a Swedish-based banking platform for e-commerce and online marketing companies, has secured US$52 million in funding led by EQT Ventures, to add to the US$21 million already raised from their Series-A round in late June this year.
This boosts Juni’s Series A round to US$73 million and takes the total funding to date to US$76 million.
EQT Ventures joins Partners of DST Global, Felix Capital, FJ labs and Cherry Ventures in backing Juni.
The company will use the funds to triple the number of its employees by recruiting 120 more employees in the next 12 months to build their product entirely in-house.
Juni plans to launch a fully integrated credit line product for its users, starting with an initial roll-out in the UK where customers will soon be able to access short-term credit.
This new offering will give entrepreneurs better visibility and control over their cash flow, while eliminating the arduous admin usually associated with credit repayments.
In June this year, Juni raised a US$21.5 million Series A round led by Partners of DST Global and Felix Capital.
“We’re internet entrepreneurs too, after all, and before launching Juni, we were in the industry that we cater to today!
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.”
said Samir El-Sabini, Founder and CEO at Juni.
