Within the newest improvement, Juno, a digital cost platform, has secured £1.6M seed funding from angel buyers and enterprise capital corporations, together with Lakestar, Six Group’s, and JME Ventures.
The corporate has additionally launched the primary digital funds platform within the UK to leverage Open Banking technology.
The corporate will interface with each main European Financial institution via the Open Banking framework, eliminating the necessity for customers to entry their financial institution accounts or share card particulars to pay, successfully masking the main points that criminals depend on to commit card fraud and making funds sooner and safer.
Additional, clever automation might be added to imminent product variations, together with computerized cost of invoices by the due date, computerized money movement updates, optical character recognition (OCR) to remove guide enter of bill particulars, and integration with accounting software program.
Shoppers also can use the app to request and make funds effortlessly, making chasing cash owed from associates, household, and housemates a factor of the previous. They’ll break up payments and different bills and receives a commission immediately by sharing a safe cost electronic mail, hyperlink, or QR code.
Digital cost platform
Based by Pete Bailey and Darren Westlake, Juno is a digital cost platform that allows sooner and safer funds for companies and shoppers.
Juno is on a mission to scale back the associated fee and complexity of funds, making late funds a factor of the previous for people and small and medium-sized companies.
By automating the request for cost (bill) course of that’s nonetheless principally guide for almost half of UK small companies, Juno goals to make late funds a factor of the previous.
Pete Bailey, Co-founder and Chief Product Officer at Juno says, “Small companies are the lifeblood of our financial system, but many are struggling to get again on their toes after the pandemic. We’re on a mission to assist them getting paid on time and, by digitising the cost course of, cease the time they waste chasing and managing funds; finally supporting a stronger money movement and that means they will survive and thrive.”
The corporate already has a staff of 14 folks, who’ve joined from corporations akin to Capgemini, Ratesetter, and Nutmeg. Juno expects to double the scale of its staff subsequent 12 months