Sweden-based Juni, which gives ecommerce businesses a unified view of their finances with cards, multi-currency accounts, and banking, accounting and advertising integrations, now has access to Yapily Data and Payments.
Powered by open banking, Juni can source and aggregate information from multiple bank accounts, providing its customers with a holistic view of financial performance, as well as better assess creditworthiness. Customers can also make instant top-ups to help control cash flow.
The partnership has already yielded significant results. So far, Yapily has enabled Juni to process more than £2.2 million in open banking payments and see more than a 500% increase in open banking usage.
Commenting on the partnership, Stefano Vaccino, founder and chief executive officer at Yapily, said: “Juni are on a phenomenal journey. It’s a privilege to see how Yapily and open banking are enabling them to continue to disrupt the B2B ecommerce space. Our partnership represents the best in fintech innovation coming together to empower businesses to thrive. I can’t wait to see what more we can achieve together.”
The partnership will be expanded in the coming months, with Juni’s open banking-enabled solutions, currently live in the UK, scheduled to be rolled out across Europe, starting with Sweden, Germany, and the Netherlands.
Juni also plans to expand its range of open banking use cases by leveraging Yapily Payments to offer a direct account-to-account payment solution to its customers beyond account top-ups.
Samir El-Sabini, co-founder and chief executive officer at Juni, which secured a further $206 million in funding in June, said: “Gone are the days of worrying about financial visibility, time wasted on manual tasks, and lengthy onboarding processes. With Yapily and open banking, we are enabling ecommerce businesses to keep pace with demand and focus on what really matters: growth.”
“Selecting Yapily as Juni’s open banking partner of choice was a no-brainer; the depth, scalability, and reliability of its coverage enables us to meet the needs of our customers, now and in the future.”