Swedish fintech start-up Juni raises $206m in funding and debt financing

Sweden-based Juni, which describes itself as “the financial companion for e-commerce”, has closed its Series B funding round, raising $100 million in funding and $106 million in venture debt financing.

Juni raises $206m

The $100 million Series B funding was led by Mubadala Capital. All of Juni’s existing investors – EQT Ventures, Felix Capital, Cherry Ventures and Partners of DST Global – participated in the round too.

The start-up also secured up to $106 million in venture debt financing from Silicon Valley-based TriplePoint Capital.

This funding will be used to fuel e-commerce businesses growth through Juni’s credit card, which is made for media buying, the start-up says.

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

Having recently launched new features including USD accounts and cards, a new Google Ads integration and a new brand identity, Juni will use the funds to support its global expansion, including increasing the headcount.

“We’re very proud to have secured this funding in such a challenging environment,” says El-Sabini.

“I know first-hand the frustrations of running an e-commerce 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.”

In October 2021, Juni raised a $52 million Series A follow-on round led by EQT Ventures. The company has several prominent business angels amongst its early investors, including NA-KD.com founder Jarno Vanhatapio; former iZettle chief communications officer, Johan Bendz; and Niklas Thornestad, who was previously Klarna’s global head of compliance.