Juno

Juno, initially launched as OnJuno in 2019, operates as a neo-banking platform targeting crypto-native users in the United States. The company was founded by Varun Deshpande, Ratnesh Ray, and Siddharth Verma, a team of serial entrepreneurs with prior experience in financial services and software development at companies like Cisco and Arista Networks, as well as co-founding ventures like BeeWise and Nuo Network. Their collective background in both traditional finance and decentralized technology underpins the company's strategic direction. The firm rebranded from OnJuno to Juno after securing the trademark for the simpler name, which is inspired by the Roman goddess of money.

The company's core offering is a checking account that integrates traditional banking functionalities with cryptocurrency services. This allows clients to receive direct deposits and make payments via a Mastercard debit card, which can be linked to both their cash and crypto balances. A key feature is the ability for users to receive a portion of their paycheck in various cryptocurrencies and transfer them to any wallet without a holding period. Juno generates revenue from transaction fees every time its debit card is used for purchases. The platform has also introduced services like Juno Pay, a payment gateway for crypto, and has plans for a tokenized rewards program.

Since its inception, Juno has secured a total of $21 million in funding over multiple rounds. Its seed round in 2019 raised $3 million from investors including Sequoia India's Surge program, Polychain Capital, and Dragonfly Capital. A subsequent Series A round in October 2022 brought in $18 million, led by ParaFi Capital, with participation from several other venture firms. These funds are earmarked for expanding the US team, particularly in compliance and marketing, and for further product development. However, the company has faced operational challenges, including the discontinuation of its Juno Treasury Account in May 2025 due to prolonged issues with its former banking partner, Synapse. Despite these setbacks, crypto wallet services remain operational.

Keywords: crypto banking, neo-bank, fintech, digital checking account, crypto payroll, Varun Deshpande, Ratnesh Ray, Siddharth Verma, crypto debit card, stablecoin payments, on-ramp, off-ramp, crypto-native, financial services, Series A, ParaFi Capital, Surge, crypto wallet, digital assets, US banking