FinTech Juni secures Swedish EMI license

By Gloria Methri

Juni, the e-commerce financial platform, has announced that it has secured its electronic money institution (EMI) license from Swedish regulator Finansinspektionen. The EMI license is the first step to enable Juni to issue e-money in Sweden and soon across Europe.

Founded in 2020, Juni provides e-commerce businesses with a unified view of their finances with cards, multi-currency accounts and accounting, banking and advertising integrations – all in one place. Through its EMI license, the Swedish FinTech will become more flexible and create tailored offers for its customers by expanding the range of payment products and services available.

The license will also help the company introduce modern and progressive compliance procedures that will provide customers with better protection against fraud. This can be achieved by combining in-house and third-party supplier solutions.

Juni can also send the EMI license and deliver its products and services to all other EU countries. It aims to do so early next year. The EMI license strengthens the company’s existing payments technology stack in preparation for entering other markets outside of Europe

“This is an important milestone for Juni. It enables us to have an even more robust legal and regulatory framework, ensuring we continue to operate a safe financial ecosystem for our customers,” said Samir El-Sabini, CEO and co-founder of Juni. “We are also excited to leverage our EMI license to expand our range of payment products and services, and continue to help our customers grow.”

Meanwhile, Ambree Khasru, VP Regulatory & Oversight Officersaid, “We are delighted to continue to provide our clients with peace of mind and confidence, now with a direct relationship with the regulator. Our focus is to ensure our clients’ financial security by taking responsibility for the security of their funds, and their data and strength Juni’s products and services in line with expected regulatory standards.”