Junio’s revenue surged by 2.28x to Rs 7.28 crore in FY24, up from Rs 3.19 crore in FY23. The fintech platform enables children to make digital and physical transactions while promoting financial literacy under parental supervision. Despite the revenue growth, the company reported a net loss of Rs 3.06 crore in FY24, slightly improving from Rs 3.21 crore in FY23.
Nearly 58% of its revenue was derived from operations in FY24, down from over 61% in FY23. Its operating revenue streams include commission fees, contributing nearly 47% in FY24, the sale of gift cards/vouchers, contributing nearly 48%, and card issuance fees, contributing over 3.5%.
Founded in 2020 by Ankit Gera and Shankar Nath, Junio aims to instill financial discipline in children from an early age. Headquartered in Delhi, the company has positioned itself as a pioneer in the kid-focused fintech space, simplifying money management for young users while ensuring parental control.
Junio’s expenses rose by 19.2% in FY24, reaching Rs 11.43 crore, compared to Rs 9.59 crore in FY23. Employee benefit costs emerged as the largest expense, increasing from 24.40% of total expenses in FY23 to 27.73% in FY24, highlighting the company’s investment in talent and operational expansion. Advertisement costs, however, saw a significant reduction from 13.45% in FY23 to 3.58% in FY24, reflecting a shift in marketing strategies. Other notable expense components included the cost of materials, which accounted for 17.84% in FY24.
The EBITDA margin improved from -198.49% in FY23 to -54.58% in FY24, indicating better cost control but still reflecting negative profitability. The Return on Capital Employed (ROCE) also saw an improvement from -12.58% in FY23 to -8.41% in FY24.
The company’s ownership structure remains largely with its co-founders, with Shankar Nath holding a 34.27% stake and Ankit Gera owning 33.66%. Other notable stakeholders include AngelList (1.25%), LetsVenture (1.40%), and Ahmed Ali Husain Nalwala (1.47%). Junio has raised a total of Rs 60.21 crore in funding across three rounds, with the most recent being a pre-Series A round on March 3, 2022.
With a clear focus on financial education and responsible spending for children, Junio continues to refine its offerings, improve operational efficiencies, and expand its user base in India’s evolving fintech ecosystem.