NB Ventures led Junio raises about $6 Mn
- ByStartupStory | March 4, 2022
Junio, a Pocket money app for children, led by UAE-based NB Ventures have raised $6 million with significant participation from the Rajiv Dadlani Group. The fresh funds will be used by the startup in order to expand its team, roll out new product features and scale up customer acquisition initiatives.
Junio is a New Delhi based company founded by Shankar Nath and Ankit Gera in the year 2020. A smart card is offered that lets children make physical and online purchases through its app. It also allows them to use their digital pocket money. The main goal of the startup, Junio is to nurture financial knowledge and discipline in children at a young age.
An in-app daily task that is allowed to be created by the parents in the mobile app for their kids to earn perks and track their spending. From angel investors like Cred founder- Kunal Shah, PolicyBazaar cofounder- Yashish Dahiya, and Venture- Catalysts, Junio had raised $2 million in seed funding previous year.
In a round led by Elevation Capital the previous year, FamPay, a Sequoia-backed company had raised $38 million which is at present competed by Junio.
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