Juno, the Singapore-based Web3 crypto company that offers clients checking accounts linked to crypto assets, raised $18 million in a Series A funding round led by Parafi Capital. The new capital follows the startup’s seed round in 2019 when Juno raised $3 million from investors.
Juno Raises $18M in Funding Round Led by Parafi Capital, Crypto Startup Reveals Loyalty Token
Web3 crypto startup Juno is a digital currency company that offers customers the ability to create a checking account by leveraging crypto assets. On October 1, it was revealed that the company had 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 company had “reached $1 billion in annualized processing transaction volume.”
The company also launched a new token called JCOIN and Juno dropped the new ERC20 token to “70,000+ Juno users”. Capital from the last funding round will be used to grow the company’s team and the company’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 launched by the founders who created the Ethereum Nuo lending protocol, has raised $21 million to date, following the Series A fundraising of $18 million. dollars and the company’s funding round in 2019. Back in 2019, investors who backed Juno included Dragonfly Capital, Polychain Capital, Sequoia Capital, Balaji Srinivasan, and Ryan Selkis.
What do you think of 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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