Juno, the Singapore-based Web3 crypto firm that offers customers checking accounts tied to crypto assets, has raised $18 million in a Series A financing round led by Parafi Capital. The fresh capital follows the startup’s seed round in 2019 when Juno raised $3 million from investors.
Juno Raises $18 Million in a Funding Round Led by Parafi Capital, Crypto Startup Reveals Loyalty Token
The Web3 crypto startup Juno is a digital currency company that provides clients with the ability to create a checking account by leveraging crypto assets. On October 1, it was revealed that the company has raised $18 million in a Series A funding round led by Parafi Capital.
According to the announcement, Juno’s Series A investors also included 6th Man Ventures, Hashed, Sequoia India’s Surge, Greycroft, Jump Crypto, and Uncorrelated Fund. Varun Deshpande, the co-founder and chief executive officer of Juno, told Tech Crunch reporter Manish Singh the firm has “reached $1 billion in annualized transaction volume processing.”
The company has also launched a new token called JCOIN and Juno airdropped the new ERC20 token to “70k+ Juno users.” The latest funding round’s capital will be used to expand the company’s team and the firm’s loyalty program. JCOIN will be used for “exciting offers, collectibles, and in-app boosts redeemable through JCOIN, only on the Juno Store.”
So far the startup, which was originally started by founders who created the Ethereum lending protocol Nuo, has raised $21 million to date, after the $18 million Series A fundraising and the company’s seed round in 2019. At the time in 2019, the investors that backed Juno included Dragonfly Capital, Polychain Capital, Sequoia Capital, Balaji Srinivasan, and Ryan Selkis.
What do you think about Juno raising $18 million from investors in a Series A financing round? Let us know what you think about this subject in the comments section below.
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