Making sure you're on top of finances surrounding your business should always be a high priority for you as a founder, if the finances aren't organized properly then every aspect of your company can suffer.

This is no more important than within the e-commerce and the general digital commerce space as a whole, so any tools or services which are genuinely helpful can be imperative for your business and this is where Juni comes into play, with its array of financial services for digital commerce-based businesses.

This Juni review gives you an honest low down on the different products and features that Juni has to offer and which types of businesses can benefit from using it and at which stage they are at (from startup to established business).

Pros of Juni

Some of the most popular features and reasons businesses use Juni are:

• Up to 1% cashback on debit spend - Great if you company spends a lot on anything from Ad spend to purchases
• Multi currency accounts - Having the ability to have multiple accounts in USD, GBP and EUR can be extremely useful
• Virtual Mastercard Corporate Cards - Easily add new virtual cards for your employees, add spend limits and get notifications of spend
• Integrations - You can connect Juni with the likes of Shopify, Xero, Amazon, Gmail, Stripe,  Paypal, Google ads, Facebook ads and more.
• Free to create an account - No set up cost for creating a Juni account

Cons of Juni

There are some things that you'll want to consider if you're thinking of using Juni, these include:

• Juni is currently only available to UK and EEA customers
• Physical cards are currently only available to UK customers
• Google and Apply Pay is not currently available but is coming soon
• Customer support only available by live chat and email, no phone support option

What is Juni?

Juni is a fintech company that offers a variety of tools to help you manage your cash flow better as well as enable you to make better and more informed decisions surrounding your finances.

The main features that they have are a multi-currency business account along with a card and the ability to create virtual Mastercard corporate cards, flexible and quick financing options, and automated invoices.

How it helps businesses

Put simply, it allows businesses to track finances from your spending, expenses, shipping costs, payment processing fees, and much more. It helps you to then manage these finances more efficiently as well as giving you access to working capital to ease cash flow.

Founders in this space often experience issues such as cash flow management, high-interest rates,  issues tracking finances properly and capped spending on cards and Juni aims to help overcome these issues.

Cashback on card spends

You can get up to 1% cashback on your debit spend with Juni, this can turn into a large amount if your business is spending a lot, in many Juni reviews people tend to use the card for ad spend meaning that cashback can quickly add up and become a significant saving.

As a new customer you can get 2% for the first 30 days spending, all cashback you earn is credited 30 days after the end of the month.

Insights

One of the core features of Juni and one that is extremely powerful is all of the insights you can get from using it. You'll be able to see a the data of your spend, incomings and outgoings, cashflow, how much has been spent by each virtual card (employee), cashback you've earnt and much more.

All of this can be viewed in your dashboard and gives you a much better and clearer view of your financial position.

Interest-free working capital

One of the popular reasons people use this financial platform is that Juni can help your business cash flow by giving you access to interest-free flexible credit lines of up to 90 days.

This can help extend your company runway, this capital can be accessed via the Juni card as well as with invoices. Many will use this to buy ads and media, as you'll know you will get the ad spend taken a lot quicker than the revenue will hit your account, so this can help with your cash flow.

Multi-currency accounts

Businesses nowadays especially in the digital commerce space often sell and buy across borders, therefore having the option to have multiple currencies within your account can be a big positive. With Juni you can have GBP, EUR, USD and SEK as currencies in your account.

When you join Juni you'll be given two accounts, a GBP account and a Euro based account, you can open up to 10 additional accounts in the currency of your choice from above

The Juni Card

At the moment, a Physical Juni card is only available if you're a company based in the UK, if you're in the UK or based elsewhere you'll be able to use the Juni virtual cards. They do have plans to launch physical cards in other markets too.

Juni boast to have one of the 'Smartest virtual Mastercard' on the market and in fairness the card does offer quite a few features which are quite unique. The ability to create as many virtural corporate Mastercard cards and having the ability to set custom limits as well as permissions can be very useful.

The main benefits are:

• Create corporate virtual Mastercard cards in minutes
• Set the currency (USD, GBP, EUR or SEK) and also set spemding limits
• Get cashback on your spends of up to 1%
• Get up to 10 on the Scale plan and 100+ on the Prime plan.

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The fees for the card are fair and competitive with most of the alternative business card solutions that we've come across.

For UK companies, you'll be able to apply for credit limits so you can get zero interest for a certain period of time, this can really help your businesses cashflow but be aware their will be varies penalities and charges related to this.

The Juni app

Juni have recently launched an app so you can access many of the features you previously could only access via the website. The app covers most of the key things you'll need to do, but as it's new we expect to see more features and functionality added as time goes on.

How to open a Juni account

As with many companies that offer business accounts, opening an account is fast and easy, simply follow the below steps:

1. Complete the online signup form (this takes minutes)
2. Upload proof of ID, this is typically a driving license, ID card or passport.
3. Your application will be processed by Juni and could be approved in a matter of days.

If your application is successful, you will need to provide Juni with the following:

• Information about the business, where it's based, what the business does and who owns it
• Recent bank statement (from the last 3 months)
• Company registration information

Juni pricing and fees

Juni currently have two plans available for businesses, a Scale plan aimed at SMB's and a Prime plan aimed at larger companies and finance teams, signing up for either plan is free.

• Free to open an account
• Free virtual Mastercard corporate cards (GBP, USD, SEK  & EUR) - up to 10 on Scale plan and 100+ on Prime plans
• Add additional virtual cards from 2 EUR per card per month
• Open up to 10 free IBAN accounts (10+ if on Prime plans)
• FX account fees of up to 0.5% and FX card payments at 1.5%
• Cashback on debit spend of 0.5% on Scale and up to 1% on Prime plans
• Capital for card terms - up to 38 days interest free on Scale and up to 75 days on Prime
• Free physical card for UK based customers
• Free ATM withdrawals

We always aim to keep the Juni pricing and fees up to date however always check on the company website itself to ensure you are aware of all the current fees and pricing.

Who can join Juni?

Currently, Juni is currently accepting applications from companies that are registered in the UK, EU and Norway. If you are outside of these areas you can't currently open an account however there are plans to open in other countries so keep an eye out for this when it happens.

About Juni

The company was founded in 2020 in Gothenburg, Sweden by two e-commerce founders, they themselves had faced many issues when it comes to the financial side of digital commerce.

They had come to see that the traditional bank sector was never set up with digital in mind and thus everything was always an afterthought. They set it up from the start with digital commerce in mind and have backing from some of the leading investors in the financial sector.

Juni are FCA regulated and funds that are held within Juni accounts are ring-fenced for your protection.

Juni Reviews

We don't just give you a review of Juni from our own experience but we also look at Juni reviews that have been collected by third parties, often set up by the company themselves.

In this case, Juni use Trustpilot to collect reviews and currently, they have over 350 reviews with an average rating of 4.4 out of 5.

Customers often praise the cashback element of Juni especially when used in conjunction with their ad spend, the customer service experience being great and the working capital options as a great aid to their business's health.

Some reviews which gave one stars mentioned to time to took for the application to go through and some mentioned accounts being closed, Juni responses often mentioned that this was due to the account going against terms and conditions and as a regulated business they have strict criteria they must follow.

Our Juni summary

If you're a digital commerce based business based in the UK or a country within the EEA then Juni could be a good option to explore, this is due to some of the main features being attractive to business in this sector.

The cashback feature for those that have high spending whether this is on ads or anything else can be the main feature that attracts you but many also enjoy the ability to open multi currency accounts as well as multiple IBAN accounts meanign dealing with multiple currenices becomes easier for your business.

The ability to create new virtual Mastercard corporate cards in minutes for anything from expenses to staff using them for purchases means you can have a clearer overview of your finances.

As Juni currently only operates in the countries above, it's important to make sure you are in a country that meets the requirements and if you require a debit card that you are a UK based business.

Overall, Juni being free and giving a great cashback rate means it's becoming a popular option for founders looking for a financial platform for all your finances related to your business.

Frequently Asked Question

Is Juni safe?

It's always important to ask this question when it comes to any tool that is associated with your finances. Juni as a Swedish company and registered and licensed with the Swedish Financial Supervisory Authority as an electronic money institution.

If you're a UK customer then they are also regulated by the Financial Conduct Authority in the UK and any customer funds are ring-fenced and not used by the company themselves.

It also runs the latest technology when it comes to its systems, including AWS for its cloud hosting.

Is Juni a bank?

No, Juni is not a bank, it is a deemed a financial technologies company.

Who founded Juni?

Samir El-Sabini and Anders Orsedal are the founders of the financial platform Juni, it launched fully in 2021 and has since raised funding to help grow their business to the place it is.

What types of business are accepted?

Currently, Juni accept limited liability companies only, these include Ltd, PLC, LLP, BV, AB and EEOD companies. If you're a sole trader or freelancer based in the UK then you may be better looking at ANNA money which is designed with them in mind.

Do I need to verify my source of funds?

During your application for an account you may be asked to verify your account funds, this is asked as its a regulatory requirement.