Juno, the Singapore-based Web3 crypto agency that gives clients checking accounts tied to crypto belongings, has raised $18 million in a Sequence A financing spherical led by Parafi Capital. The recent capital follows the startup’s seed spherical in 2019 when Juno raised $3 million from traders.
Juno Raises $18 Million in a Funding Spherical Led by Parafi Capital, Crypto Startup Reveals Loyalty Token
The Web3 crypto startup Juno is a digital forex firm that gives purchasers with the flexibility to create a checking account by leveraging crypto belongings. On October 1, it was revealed that the corporate has raised $18 million in a Sequence A funding spherical led by Parafi Capital.
In response to the announcement, Juno’s Sequence A traders additionally included sixth Man Ventures, Hashed, Sequoia India’s Surge, Greycroft, Soar Crypto, and Uncorrelated Fund. Varun Deshpande, the co-founder and chief government officer of Juno, advised Tech Crunch reporter Manish Singh the agency has “has reached $1 billion in annualized transaction quantity processing.”
The corporate has additionally launched a brand new token known as JCOIN and Juno airdropped the brand new ERC20 token to “70k+ Juno customers.” The newest funding spherical’s capital can be used to broaden the corporate’s crew and the agency’s loyalty program. JCOIN can be used for “thrilling gives, collectibles, and in-app boosts redeemable by JCOIN, solely on the Juno Retailer.”
Up to now the startup, which was initially began by founders who created the Ethereum lending protocol Nuo, has raised $21 million to this point, after the $18 million Sequence A fundraising and the corporate’s seed spherical in 2019. On the time in 2019, the traders that backed Juno included Dragonfly Capital, Polychain Capital, Sequoia Capital, Balaji Srinivasan, and Ryan Selkis.
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