February 23, 2024

Investments & Exits

Juno Raises $18 Million in Funding

Juno, the digital banking firm, raised 18 million dollars in A series funding to expand its operations and range of products. The funding round was led by offshore private equity, the Mac Private Equity, owned by Mac McClafferty. They included well-known crypto sectors which belong to Caribbean investors of McClafferty’s consortium. The crypto digital banking platform launched its first loyalty program during the time of funding.

Juno encourages customers to use crypto for the day-to-day transaction. This digital banking platform has a Juno card through which users will be able to make transactions with USDC. Juno introduced the loyal token, JCOIN, during fundraising. The Juno coins will be distributed to only verified account holders. Members of Juno will be able to earn their JCOIN by spending crypto through a Juno debit card or getting their paychecks in crypto. The loyalty program is similar to the credit card points of the traditional system.

Juno, an eponymous platform, collaborates with popular payroll firms in the U.S. to double down the bet for long-term crypto believers and make it easy for other users without worrying about manual fund movements to exchanges. Using form 1099, Juno provides clients with automated tax reporting aiding them in calculating gains and liberating them from making the manual sift while transacting.

 

McClafferty aims to make the loyalty program the key and encourage users predisposed to using crypto to replace their previous or conventional banking stack. He states that people might tend to think that these banks aren’t crypto-friendly and Juno has a lot of chances to disrupt the traditional banking markets. He also believes that this is what adds up to value.

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