Pocket-money and kids-focused start-up Junio has raised an additional Rs 5 crore in funding from Family Offices, Venture Catalysts, and HNI investors. This round of additional funding was led by the Rajiv Dadlani Group. After this round of funding, the start-up will have raised Rs 15 crore in total from its seed round. Junio will utilize this funding to strengthen its team, develop its products, and venture into customer acquisition.
Founded by former Paytm employees, Junio crossed 50,000 users within a month of its launch in September 2020. The platform has found acceptance by the parents and children alike, as a way for children to learn about finance and money management early on in life. They have some interesting product features lined up in the upcoming months and a full-fledged marketing launch. The backing by investors will also facilitate digital payment options for kids-focused options. This vertical of children’s finances is relatively untapped and has huge potential in India.
Over and above pocket money transfer, Junio also allows parents to know about the spending of their children and teenagers. It also provides the feature of letting the guardians create application-based, incentivized tasks for their kids.