Juni, a Swedish fintech business, has secured $100 million in a capital round headed by Mubadala, an Abu Dhabi-based state investor, and another $106 million in venture loan financing from Silicon Valley’s TriplePoint Capital.
EQT Ventures, Felix Capital, Cherry Ventures, and Partners of DST Global, who have been Juni investors before, also participated in the investment round.
Getting financing under favorable terms is becoming more difficult for startups as venture capital firms tighten their purse strings in response to sluggish equity markets and a significant decline in the values of newly listed businesses.
The company is delighted to get new funding
Juni, founded in 2020 and funded with $52 million in October, provides financial management tools to online businesses.
Chief Executive Samir El-Sabini said that the company is delighted to have received this money during this challenging time. He added that with it, the company would help eCommerce firms win by providing the necessary analytics, tools, and integrations while also boosting their marketing budgets.
This new round is one of the largest Europe has seen this year. Like other fintechs like BNPL Billie and Danish Pleo, Juni has remained unaffected by the recession in consumer spending by focusing on B2B.
Eye on B2B
Juni’s focus will now be on expanding the business through its new credit card product, which will be available in all European Economic Area regions and the United Kingdom. It has yet to introduce its unique features (including the national currency) in Sweden but plans to do so this summer.
The worldwide eCommerce sector is expected to reach billions of dollars in sales by 2025, and while sales have slowed in recent months, El-Sabini remains optimistic about the market.
He anticipates that the hundreds of thousands of eCommerce companies in Europe now and in the future will continue to present diversification and opportunities.
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