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Web3 and Crypto Checking Account Startup Juno Raises $18M, Airdrops Reward Token JCOIN – Finance Bitcoin News

Juno, the Singapore-based Web3 crypto agency that gives clients checking accounts tied to crypto belongings, has raised $18 million in a Series 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.

Juno Raises $18 Million in a Funding Round Led by Parafi Capital, Crypto Startup Reveals Loyalty Token

The Web3 crypto startup Juno is a digital forex company that gives shoppers with the power to create a checking account by leveraging crypto belongings. On October 1, it was revealed that the company has raised $18 million in a Series A funding spherical led by Parafi Capital.

According to the announcement, Juno’s Series A traders additionally included sixth Man Ventures, Hashed, Sequoia India’s Surge, Greycroft, Jump Crypto, and Uncorrelated Fund. Varun Deshpande, the co-founder and chief government officer of Juno, told Tech Crunch reporter Manish Singh the agency has “has reached $1 billion in annualized transaction volume processing.”

The company has additionally launched a brand new token known as JCOIN and Juno airdropped the brand new ERC20 token to “70k+ Juno users.” The newest funding spherical’s capital will probably be used to develop the company’s staff and the agency’s loyalty program. JCOIN will probably be used for “exciting offers, collectibles, and in-app boosts redeemable through JCOIN, only on the Juno Store.”

So far the startup, which was initially began by founders who created the Ethereum lending protocol Nuo, has raised $21 million thus far, after the $18 million Series A fundraising and the company’s seed spherical in 2019. At 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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What do you consider Juno elevating $18 million from traders in a Series A financing spherical? Let us know what you consider this topic within the feedback part beneath.

Jamie Redman

Jamie Redman is the News Lead at News and a monetary tech journalist dwelling in Florida. Redman has been an lively member of the cryptocurrency group since 2011. He has a ardour for Bitcoin, open-source code, and decentralized purposes. Since September 2015, Redman has written greater than 6,000 articles for News in regards to the disruptive protocols rising right this moment.

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