Juno, the Singapore-based Web3 crypto agency that provides prospects checking accounts tied to crypto property, has raised $18 million in a Collection A financing spherical led by Parafi Capital. The contemporary capital follows the startup’s seed spherical in 2019 when Juno raised $3 million from traders.
The Web3 crypto startup Juno is a digital forex firm that gives shoppers with the flexibility to create a checking account by leveraging crypto property. On October 1, it was revealed that the corporate has raised $18 million in a Collection A funding spherical led by Parafi Capital.
Based on the announcement, Juno’s Collection A traders additionally included sixth Man Ventures, Hashed, Sequoia India’s Surge, Greycroft, Bounce Crypto, and Uncorrelated Fund. Varun Deshpande, the co-founder and chief govt 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 referred to as JCOIN and Juno airdropped the brand new ERC20 token to “70k+ Juno customers.” The newest funding spherical’s capital shall be used to develop the corporate’s workforce and the agency’s loyalty program. JCOIN shall be used for “thrilling gives, collectibles, and in-app boosts redeemable by JCOIN, solely on the Juno Retailer.”
To this point 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 Collection 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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