Junio funding

junio funding

Junio, a kids-focused digital pocket money startup announced that it has raised an additional Rs 5 crore in funding from Venture Catalysts, HNI investors, and Family Offices led by the Rajiv Dadlani Group. With this round, the fintech company has raised a total of Rs 15 crore as a part of its seed round.

In January this year, the company had raised $1 million as part of its ongoing seed round, from a clutch of angel investors, including BharatPe founder, Ashneer Grover; Cred founder, Kunal Shah, among others.

Junio will be using the current fundraise to build its product, strengthen its team and focus on customer acquisitions.

“We are thrilled with the early traction we are seeing in Junio. Over the next few months, we will roll out more interesting product features, and have a full-fledged marketing launch,” said co-founder of Junio, Ankit Gera.

The startup claims that within a month of launch, it has crossed 50,000 users, as the Junio app finds strong acceptance among the parent-children community.

“There is a huge, inherent, and unmet need for Junio’s products amongst teenagers and the parent-children community. Given their vision and strong execution, and also the virtual card segment being at a nascent stage in India, we are glad to participate as long-term investors, and support Junio in its amazing journey forward,” said Rajiv Dadlani.

Founded in September 2020 by former Paytm executives Shankar Nath & Ankit Gera, Junio offers a ‘smart card’ which lets children make physical and online purchases through its app, allowing them to use their digital pocket money. Focused on children between grade 4 and grade 10, the startup’s goal is to nurture financial knowledge and discipline in children at a young age.

In addition to instant pocket money transfer, the Junio app also allows parents to know about the spending done by their children. It also lets parents create in-app daily tasks for their kids and tie them with perks.

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