Fintech Startup Junio Raises $6 Million In Pre-Series A Funding Round
Junio, a Delhi-based fintech startup, has raised $6 million (Rs 45 crore) in a Pre-Series A funding round, led by UAE-based firm NB Ventures, with significant participation from the Rajiv Dadlani Group.
As per the startup, the freshly raised funds will be used to bolster its team, roll out new product features, and scale up customer acquisition initiatives.
Junio | Helping Children Grow Into Financially Responsible Adults
Founded by Shankar Nath and Ankit Gera in 2020, Junio offers a ‘smart card’ that enables kids to make offline and online purchases. The startup aims to digitise pocket money for children and be the preferred digital payment option.
Speaking on the development, Ankit Gera and Shankar Nath, Co-founders of Junio, said,
“We have seen huge adoption of our app ever since we launched it last year. There is a strong acceptance among the parent-children community. We are now in the process of introducing new and exciting features while focusing on developing a user-friendly product. We are delighted to have our new investors on board and thank them for their support.”
As per the startup, its goal is to nurture discipline and awareness in children about how to manage money in a fun and practical way.
The fintech startup allows parents to control smart cards through the Junio app, wherein they can create in-app chore lists and tie them with perks. Junio claims to have users spread across the length and breadth of the country, with its core users being 10-16-year-old children who have embraced all things digital.
Talking about Junio App, Rajiv Dadlani said,
“Pocket money is an age-old concept, and it has evolved over the years. Now, the Junio app is trying to revolutionise the sector by using technology and digitisation. The pandemic has pushed us towards a cashless economy, and while pocket money and digital payment by kids are in their nascent stage in India right now, there is a huge potential.”
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