[Funding] Junio raises $1 million in its angel round from various angel investors

Junio has raised a total of $1 million in its Angel Round. The kids' pocket-money, smart card saw the participation of some of the renowned angel investors and HNIs in India. Some prominent names include Kunal Shah, Deepak Abbot, Asneer Grover (BharatPe), Yashish Dahiya (PolicyBazaar), Amit Lakhotia, and Pravin Jadhav (First Cheque). The startup plans to utilize the invested capital for further developing the product. It further aims to bolster its team and customer acquisition initiatives. Moreover, the startup will expand its business footprint across more cities in India.

About Junio

Junio is the first-of-its-kind digital pocket-money smart card for children. Shankar Nath and Ankit Gera ideated the startup to digitize pocket money for children while nurturing financial knowledge and discipline in them at an early age. The company’s vision is to create a community of financially smart and empowered young generation. Junio smart card lets children make physical and online purchases (through the app) using digital pocket money. Junio’s goal is to promote desired behaviour among children along with developing an understanding of the value of hard-earned money.

In addition to instant pocket money transfer, the app also allows parents to keep a track of their children spending. It also lets parents create in-app daily tasks for their kids and tie them with perks. The app also has features such as setting withdrawal limits for ATM and gives flexibility to parents to cancel the card at any moment using the app.

Ankit Gera, co-founder, Junio stated that this investment reposed market faith on Junio. “Going forward, their guidance and business acumen will be a huge asset for us. In the months ahead, we will focus on building an intuitive, user-friendly product along with sustainable customer acquisition initiatives,” he further added.