Neo bank Juno said to raise $3m in seed round

Neo bank Juno has reportedly raised $3m in a seed funding round led by Polychain Capital and Sequoia Capital India’s accelerator Surge.

Other contributions to the round came from Dragonfly Capital, Consensys Labs, Astarc Ventures, and Singapore Angel Network, according to a report from Inc42. Other contributions came from angel investors including former PayU India managing director Jitendra Gupta, PayU India CEO Amrish Rau, and Incrypt Blockchain founder Nitin Sharma.

Juno had recently graduated from the Surge accelerator programme which included an investment of $1m to $2m from the investor and co-investors, and formed part of the seed round, the article states.

Plans for the capital are to expand the Singapore and India teams, and apply for a license in certain markets. The startup also plans to introduce a debit card in partnership with a banking service.

The FinTech platform was built through the Ethereum blockchain and aims to establish an open and global financial system for everyone. Its solution has savings accounts with a 5.5% annual interest rate and no hidden fees.

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