Junio, a kids-focused fintech platform, has raised seed capital from Kunal Shah.

As per regulatory filings, Junio has allotted 75,000 convertible debentures at Rs 100 each to Shah’s QED Innovation Labs to raise Rs 75 lakh.

First reported by entrackr, the company is also in an advanced stage to raise $1 million from First Cheque and several individuals.

Requesting anonymity, one of the sources said,

“Junio has been in talks with First Cheque for a while, and the contours of the deal have already been finalised. The investment is set to chip in over the next couple of weeks.”

Started by former Paytm senior vice president Shankar Nath, along with Ankit Gera, Junio is a kids-focused smart card that lets them make digital and physical purchases. According to its website, Junio acts as a credit card and imparts financial discipline to children.

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