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Juno, the Singapore-based Web3 crypto firm that offers customers checking accounts tied to cryptoassets, has raised $18 million in a Series A funding round led by Parafi Capital. The fresh capital follows the startup’s seed round in 2019, when Juno raised $3 million from investors.
Web3 crypto startup Juno is a digital currency company that allows customers 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, co-founder and CEO of Juno, told Tech Crunch reporter Manish Singh that the firm “has reached $1 billion in processing transaction volume on an annualized basis.”
The company has also launched a new token called JCOIN and Juno airdropped the new ERC20 token for “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 at the Juno Store.”
So far, the startup, which was originally started by entrepreneurs who created the Ethereum lending protocol Nuo, has raised $21 million to date, after raising $18 million in Series A and the company’s seed round in 2019. At that time in 2019, the investors backing 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 funding round? Let us know what you think about this topic in the comments section below.
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