The ecommerce space keeps growing and growing. Helping companies enjoy this journey, Swedish startup Juni has picked up more than €192 million for its fintech tools helping ecommerce innovators scale and succeed.
The digital era has brought about massive changes in habits – one of the most notable being consumer preferences. Ecommerce capabilities are now essential for most businesses as consumers want to browse online, order online and pay online.
Offering an all-in-one integrated payment solution for ecommerce companies, Juni has just picked up a mega €192 million to help businesses scale up and unlock their ecommerce potential. Mubadala Capital led the round alongside TriplePoint Capital, with previous backers EQT Ventures, Felix Capital, Cherry Ventures and Partners of DST Global also participating. It comes after an €18.1 million round in 2021.
Founded in 2021 and launched in 2021, Juni has found a gap in the fintech market – the needs of ecommerce SMBs. The company acts as a financial companion for the next generation of digital-first companies. The platform frees teams’ time up as it relieves them from administrative burdens so they can focus on growing the business.
The tool integrates with banks and major payment providers, and, it automates routine functions. With Juni, companies can get a complete overview of their finances as it pulls together physical and virtual cards, credit cards, accounting data, analytics and digital advertising platforms.
Juni co-founder and CEO Samir El-Sabini, commented: “We’re very proud to have secured this funding in such a challenging environment. I know first-hand the frustrations of running an e-commerce business and time wasted on spend management, the lack of visibility of cash flow, and scaling ad campaigns.”
Ecommerce companies are growing – and this gives ecommerce entrepreneurs more responsibilities and more financial elements to track. With Juni, analytics around a company’s financials are optimized. The platform includes about 2,400 integrations with tools that companies might use for their accounting, digital advertising, payments on websites and so on. It makes it a really valuable tool for companies of all sizes and all scopes.
Mubadala’s Fatou Bintou Sagnang, added: “Despite unprecedented market conditions, we believe fundamental trends are here to stay. Traditional financial institutions continue to underserve the SMB e-commerce market – a customer segment that requires speed, simplicity, and real-time analytics to grow and scale. In Juni, we see a company with strong traction and a fantastic management team addressing this service gap through an inclusive financial product that is tailor-made for the e-commerce market.”
This new capital boost will be used by the Swedish startup to rapidly scale. The credit card offers, which is tailored to help ecommerce players themselves succeed, will be a development priority. In addition, the company has plans to expand globally and ramp up recruitment.
via https://www.AiUpNow.com
June 9, 2022 at 04:24AM by contact@bcurdy.com, Khareem Sudlow
