Financial information is still delivered through a gendered lens. In this gender bias that exists, men are more likely targeted with articles related to investments. Eventually, women’s financial education is lagging behind in all aspects.
London-based Your Juno is a financial education platform, which is focused on the financial empowerment of women and non-binary people. The platform is aimed at providing the best education about finances in a fun way.
Your Juno just picked up $2.2 million in a seed funding round. This investment follows the £250k pre-seed round the company secured in March 2020. The financing round was led by InReach Ventures alongside participation from Mustard Seed Maze, RLC, Digital Currency Group and Sie Ventures.
Also, a slew of predominantly female angel investors including Rupa Popat (Ex-Director of RBC), Elissa Grey (Non Executive Director at Reed Smith LLP), RaeHyun Koh (Portfolio Manager at Goldman Sachs), Pallavi Reddy (Investment Director at Aviva), Emma Cohen (ESG and Impact Director at Goldman Sachs) and Antoine Sakho (Head of Product at Busuu) participated in the round.
Interestingly, the angel investors include 70% women and 75% of those are women of colour. This was a deliberate decision by the founders to ensure to stick to Your Juno’s mission to close the gender money gap.
While it is estimated that only a meagre 2.2% of funding went into tech companies led by female entrepreneurs in 2021, Your Juno’s seed funding round is a notable one.
The proceeds of this round will be used to build new content based on user insights, scale the existing team of eight, and grow the community in new regions around the world. Especially, it will focus on France, Germany and North America.
Alexia de Broglie, Co-founder of Your Juno said: “We’ve moved quickly since the inception of Your Juno amid the pandemic, testament to the appetite for a financial education platform built by and for women and non-binary people. It was important for us to ensure our investors reflected our users and so we’re happy to have a strongly female, racially diverse group of investors and advisors who understand our community and can help us in this next stage of our growth”.
Margot de Broglie, co-founder of Your Juno said: “Gen-Z’s interest in personal finance has skyrocketed since the pandemic and we want to make sure our generation is getting content that speaks directly to their experience and represents them as a diverse group. This year is really about scaling our community to ensure that women and non-binary people are no longer considered a niche audience in the personal finance world.”
Amanda Jones Floyd, investor at InReach Ventures said: “Over the pandemic, Gen-Z became increasingly engaged with personal finance. FinTok has blown up and Gen-Z became a rapidly growing audience for investment and money management platforms. That’s why we jumped at the opportunity to lead the round for Your Juno. Margot and Alexia have an unbridled energy and commitment to make financial education inclusive and accessible for women and marginalized genders. The first year of Your Juno has been huge, we’re excited to see them go from strength to strength in 2022.”
Triin Linamagi, co-founder and investor at Sie Ventures said: “We were particularly interested in Your Juno’s focus on educating Gen-Z women in financial literacy, as they enter adulthood and are seeking online guidance to better gauge their investment options. Most investment platforms are targeted toward young men and women investing differently, but not in the ways most wealth managers think. The opportunity has been overlooked for too long, and we believe Juno is best placed to build the community and platform tailored to this generation.”
The Duolingo of money!
Your Juno was founded by sisters Alexia de Broglie and Margot de Broglie after learning the gender gap in financial education and financial confidence was a key reason for women’s lack of engagement in finance. They decided to build “the Duolingo of money” to fil this gap.
Your Juno launched on the App Store in October 2021. The app offers users with short-form video courses led by notable money experts, including Selina Flavius and gamified content. Since it debut, it has been downloaded over 10,000 times and its audience predominantly comprises Gen-Z women.