And the money train continues to roll for Sweden’s June when fintech pulls in 206 million dollars
Swedish integrated payment solution platform June has raised $ 206 million, $ 100 million in equity through a Mubadala capital lead, and $ 106 million in debt financing via TriplePoint Capital.
The new capital will primarily be used to drive June’s credit card offering specifically tailored to enable e-commerce players to quickly scale through media purchases, as well as push ahead with global expansion plans, all with the support of a sustainable recruitment campaign.
Founded in 2020 and officially launched in early 2021, Fintech connects physical and virtual cards, credit cards, accounting, analytics and digital advertising platforms, giving growing companies a complete overview of their finances.
The service integrates with thousands of banks and major payment providers and automates a number of routine functions, freeing up entrepreneurs’ time to focus on growing their business instead of managing advertising expenses and invoices.
“We are very proud to have secured this funding in such a challenging environment,” commented June co-founder and CEO Samir El-Sabini. “I feel primarily the frustrations of running an e-commerce business and the time wasted on spending management, the lack of visibility of cash flow and the scaling of advertising campaigns.”
In addition to Mubadala’s management, $ 100 million in the share of June’s Series B round of $ 206 million was shared by all existing investors, including EQT Ventures, Felix Capital, Cherry Venturesand partners to DST Global.
“Despite unprecedented market conditions, we believe that fundamental trends are here to stay. Traditional financial institutions continue to undercut SMB e-commerce market – a customer segment that requires speed, simplicity and real-time analysis to grow and scale. In June, we see a company with strong traction and a fantastic management team that addresses this service gap through an inclusive financial product tailored to the e-commerce market “, concluded Mubadalas Fatou Bintou Sagnang.