The EMI licence is a first step to enable Juni to issue e-money in Sweden and in time, across Europe.
Juni gives ecommerce businesses a unified view of their finances with cards, multi-currency accounts, and accounting, banking, and advertising integrations – all in one place. Through its EMI licence, Juni will be able to:
Be more flexible and create more tailored offers for its customers by broadening the range of payment products and services available and to go to market quickly;
Introduce modern and progressive compliance procedures that will offer its customers better protection from fraud – by combining in-house built and third party vendor solutions;
Passport the EMI licence and provide its products and services to all other EU countries, with the aim to do so early next year;
Strengthen its existing payments technology stack in preparation to enter other markets beyond Europe.
In June 2022, Juni has raised USD 206 million in financing, consisting of USD 100 million series B funding round and USD 106 million in venture debt financing, to fuel its ecommerce businesses. Juni said the funding will be used to scale-up growth in ecommerce through its recently launched credit card, support its global expansion, and build out its headcount. All of Juni’s existing investors, including EQT Ventures, Felix Capital, Cherry Ventures and Partners of DST Global, participated in the funding round, which was led by Mubadala Capital.
In October 2022, Yapily has teamed up with Juni. The partnership is aimed at helping ecommerce businesses gain a real-time overview of their finances, maximise cash flow, and get better credit decisions.
Using Open Banking, Yapily Data enables Juni to instantly fetch and aggregate information from multiple bank accounts, providing its customers with a holistic view of financial performance. By analysing this data, Juni can also complete a faster, fairer, and more accurate way to assess creditworthiness, reaching credit decisions more quickly whilst improving access to credit for ecommerce businesses.
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