Newsroom
•
2 mins read
•
July 24, 2020
Announcing our Seed Round from Marquee Investors
Building a global cross-border neobanking platform
We are excited to announce that OnJuno has raised a Seed Round of USD 3 Million from Sequoia Capital's Surge Program, Polychain Capital and Dragonfly Capital Partners. OnJuno is a cross-border Neo Banking Platform..
We are currently a distributed team based out of Singapore and Bangalore and soon to be in San Francisco. With a global presence and empathy towards the needs of immigrants in the US, OnJuno makes sending money back home fast and easy with international remittances which are 8x cheaper than the largest banks.
With these marquee investors onboard, we are now well capitalised to launch OnJuno in the US and onboard initial customers. We are currently in the process of finalising our partner bank and launching in private beta. Once finalised, we will be able to create accounts for customers with our partner bank, initiate ACH transfers, issue debit cards and start providing you with ways to save more.
Varun Deshpande, co-founder of OnJuno - “We are excited to unveil
- a neo banking platform that provides account to save more. Our mission with OnJuno is to help create an open financial system for the world by providing equal opportunity and access, no matter where you are born or how much you earn. We are also delighted to partner with Polychain Capital, Sequoia Capital’s Surge Program and Dragonfly Capital on this journey as we build a new age banking platform from the ground up”
The round also saw participation from Consensys Labs, Astarc Ventures, Singapore Angel Network and notable angels including Balaji S. Srinivasan (Ex-CTO, Coinbase and General Partner, a16z), Salil Deshpande (ex-MD, Bain Capital Ventures), Amrish Rau and Jitendra Gupta (CEO & MD, PayU India), Nitin Sharma from Incrypt, Venu Palaparthi (CCO, Dash Financial), Rajesh Chelapurath (President, Ceera Investments), Brian Ma (Founder, Divvy Homes), Sanjay Mehta from Mehta Ventures, Prashant Malik (Creator of Apache Cassandra).
OnJuno was founded in July 2019 by Varun Deshpande, Ratnesh Ray and Siddharth Verma, who also created the Consensys backed Nuo protocol in 2018. The trio had earlier founded BeeWise, an alternate credit analytics platform acquired in 2017 by Aditya Birla Money.
