While fintechs usually struggle with dropping valuations and layoffs as a result of the new market realities, Juni, a Swedish niche neobank, is taking a different approach.
Juni today announced a $106 million Series B investment led by Mubadala Capital of the United Arab Emirates, as well as $100 million in venture debt financing from TriplePoint Capital of the United States.
Samir El-Sabini and Anders Orsedal formed the Gothenburg-based startup in 2020, and it has developed a financial management software for online businesses. It provides physical and virtual cards, credit cards, bookkeeping, analytics, and digital advertising platforms, as well as connectivity with Google Ads. It’s been a hot investment since its inception.
It raised $21.5 million in its Series A round last summer, with a $52 million extension in the autumn, from EQT Ventures, DST Global, Felix Capital, and Cherry Ventures. This year’s new round is one of Europe’s largest.
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