New Delhi, January 27, 2021: Junio, a kids-focused digital pocket money smart card, has raised a total of $1 million in its Angel Round. The fundraising round witnessed the participation of some of the renowned angel investors and HNIs in India including Kunal Shah, Deepak Abbot, Asneer Grover (Bharat Pe), Yashish Dahiya (PolicyBazaar), Amit Lakhotia, and Pravin Jadhav (First Cheque).
Junio plans to utilize the invested capital for further developing the product, bolstering its team and customer acquisition initiatives, and expand its business footprint across more cities in India.
Quote by Ankit Gera, co-founder, Junio “We are thrilled that such successful entrepreneurs and investors have reposed their 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.
Junio is a first-of-its-kind digital pocket money smart card for children between classes 4th and 10th. Co-founded by former Paytm alumni Shankar Nath and Ankit Gera in September 2020, the idea is to digitize pocket money for children while nurturing financial knowledge and discipline in them at an early age.
In addition to instant pocket money transfer, the app also allows parents to keep a track of the spending made by children. It also lets parents create in-app daily tasks for their kids and tie them with perks. The app is integrated with features such as setting withdrawal limits for ATM and gives flexibility to parents to cancel the card at any moment using the app.