Juno Technologies says it has raised $1 million to pursue its artificial intelligence service that aims to improve loan processing for small firms.
Fuel Ventures led the funding round with contributions from Zinc and other Angel investors.
Juno AI is described as a generative AI system for financial firms that will dramatically speed up loan processing while reducing overall cost.
UK Venture Capital Firm Leads $1M Investment Round in Juno AI to Levels Up Loan Processing for Small Businesses
Juno said it plans to use the funds to help it launch its core offering into the market. The system is said to automate a wide range of tasks traditionally handled manually in the loan origination and packaging process.
Max Chmyshuk, co-founder of Juno, said the backing by Fuel Ventures was a strong vote of confidence on their tech and vision.
“At Juno AI, we are passionate about improving access to capital for small businesses and boosting the economy through the application of the latest advances in AI. With Fuel Ventures’ support, we are now well-positioned to accelerate our product development and deployment, ensuring that lenders and brokers can offer quicker, more reliable and cost-effective services to SMEs across the UK and beyond.”
Mark Pearson, founder of Fuel Ventures, said that Juno aligns with their goal of backing tech that can drive advancements in traditional industries.
