STOCKHOLM -Swedish fintech firm Juni has raised $100 million in a funding round led by the asset management arm of Abu Dhabi state investor Mubadala, and another $106 million in venture debt financing from Silicon Valley-based TriplePoint Capital.
ADVERTISEMENT
ADVERTISEMENT
Juni's existing investors - EQT Ventures, Felix Capital, Cherry Ventures and Partners of DST Global - also participated in the funding round.
Mubadala's unit Mubadala Capital manages about $9 billion in third-party capital on behalf of institutional investors and has so far invested in over 40 companies, with 12 exits.
Getting funding at favorable terms is becoming difficult for startups as venture capital firms are getting stricter in loosening their purse strings as weak equity markets and a big drop in valuations of newly listed companies have dented investor confidence.
Founded in 2020, Juni provides financial management platforms to ecommerce companies and had raised $52 million in October.
The company did not disclose its valuation.
"We are very proud to have secured this funding in such a challenging environment," said Chief Executive Samir El-Sabini. "With this funding, we will help ecommerce businesses win by building the right insights, features and integrations while injecting capital into their marketing spend."
