2 min read

Announcing our Seed Round from Marquee Investors

Building a global cross-border neobanking platform

We are excited to announce that OnJuno has raised a Seed Round of USD 3 Million from Sequoia Capital's Surge Program, Polychain Capital and Dragonfly Capital Partners. OnJuno is a cross-border Neo Banking Platform that provides customers an FDIC Insured High Yield Checking Account. Our goal is to completely phase out the use of Savings Account by building a powerful High Yield Checking Account which can help you save more with direct deposits, free cash withdrawals and no fees.

We are currently a distributed team based out of Singapore and Bangalore and soon to be in San Francisco. With a global presence and empathy towards the needs of immigrants in the US, OnJuno makes sending money back home fast and easy with international remittances which are 8x cheaper than the largest banks.

With these marquee investors onboard, we are now well capitalised to launch OnJuno in the US and onboard initial customers with our High Yield Checking Account. We are currently in the process of finalising our partner bank and launching in private beta. Once finalised, we will be able to create checking accounts for customers with our partner bank, initiate ACH transfers, issue debit cards and start providing you with ways to save more.

Varun Deshpande, co-founder of OnJuno - “We are excited to unveil OnJuno - a neo banking platform that provides a high yield checking account to save more. Our mission with OnJuno is to help create an open financial system for the world by providing equal opportunity and access, no matter where you are born or how much you earn. We are also delighted to partner with Polychain Capital, Sequoia Capital’s Surge Program and Dragonfly Capital on this journey as we build a new age banking platform from the ground up”

The round also saw participation from Consensys Labs, Astarc Ventures, Singapore Angel Network and notable angels including Balaji S. Srinivasan (Ex-CTO, Coinbase and General Partner, a16z), Salil Deshpande (ex-MD, Bain Capital Ventures), Amrish Rau and Jitendra Gupta (CEO & MD, PayU India), Nitin Sharma from Incrypt, Venu Palaparthi (CCO, Dash Financial), Rajesh Chelapurath (President, Ceera Investments), Brian Ma (Founder, Divvy Homes), Sanjay Mehta from Mehta Ventures, Prashant Malik (Creator of Apache Cassandra).

OnJuno was founded in July 2019 by Varun Deshpande, Ratnesh Ray and Siddharth Verma, who also created the Consensys backed Nuo protocol in 2018. The trio had earlier founded BeeWise, an alternate credit analytics platform acquired in 2017 by Aditya Birla Money.

With the Fed currently cutting interest rates to lowest in a decade, OnJuno is currently offering a way to lock your rate for the year with Day 1 Priority Access. OnJuno Checking Account will be available across 3 tiers on launch - Metal, Premium & Basic. You can signup for priority access at

Varun Deshpande
Varun is the co-founder of OnJuno, a cross border neo bank. A serial entrepreneur with experience in financial services. He writes often about financial inclusion and freedom.

The Most Powerful Checking Account

Our checking account gives you higher returns than a savings account with no hidden fees.


12.15% bonus rate is a promotional rate for our Priority Access users. The Priority access users get 2.15% bonus rate up to $50,000 in deposits. The bonus rate drops to 0.50% beyond $50,000. These bonus rates are fixed until April 30, 2021 and will be subjected to evaluation after.

21.65% bonus rate is a promotional rate for our Premium Access users. The Premium access users get 1.65% bonus rate up to $50,000 in deposits. The bonus rate drops to 0.50% beyond $50,000. These bonus rates are fixed until April 30, 2021 and will be subjected to evaluation after.

31.15% bonus rate is a promotional rate for our Basic Access users. The Basic access users get 1.15% bonus rate up to $50,000 in deposits. The bonus rate drops to 0.50% beyond $50,000. These bonus rates are fixed until April 30, 2021 and will be subjected to evaluation after.

The OnJuno Checking Account and Debit Card are part of an offering of CAPITALJ Inc ("OnJuno") and Evolve Bank and Trust, Member FDIC. Your deposits at each Bank are eligible for insurance by the Federal Deposit Insurance Corporation (FDIC) up to $250,000, subject to FDIC rules on aggregation of deposits held in the same insurable capacity. Please visit the FDIC website. Neither OnJuno by CAPITALJ Inc. nor any of its subsidiaries is a Bank.

Interest rate and Annual Percentage Yield comparisons are based on a comparison of OnJuno's Checking Account 2.15% bonus rate to the following checking & savings account APYs reported by Bankrate for 7/29/2020: Marcus Savings Account (0.8% APY), Wealthfront Cash Account (0.35% APY), BofA Adv. Relationship (0.02% APY) and Chase Premier+ (0.01% APY). Actual savings may vary based on rates that are available during the time of your deposit The Annual Percentage Yield (APY) for the Cash Account is as of a specific date and may change at any time, which could decrease or increase actual earnings. The national average is based on rates published at, as of July 29, 2020.

Customers will earn cash back for purchases made at selected merchants. Cash back will be reflected in your OnJuno Account upon a transaction being posted. For example, if you make a purchase of $1000 from a select merchant using your OnJuno Debit card, then you would receive a total of $50 as cash back which would be reflected in your account immediately. In case of a refund or dispute resolution, the cash back would be deduced from the amount transferred. This cash back rewards program is subject to change by OnJuno at any time without notice.

OnJuno has curated the list of favorite brands as representative of the kinds of purchases that earn cash back from OnJuno. All third-party trademarks displayed on the Site and App, include these displayed brands, are for informational purposes and does not mean that they have a relationship with or sponsor or endorse OnJuno or are involved in the cash back program. All third-party trademarks displayed are owned by their respective owners.

This site and the account services offered are for U.S. persons only. This is not an offer or solicitation in any jurisdiction where CAPITALJ is not authorized to do business or where such offer or solicitation would be contrary to the local laws and regulations of that jurisdiction. System availability and account access times may vary due to a range of factors, including market conditions, trading volumes, system performance, and other factors.

OnJuno uses Plaid Inc. (“Plaid”) to gather End User’s data from financial institutions. By using our service, you grant OnJuno and Plaid the right, power, and authority to act on your behalf to access and transmit your personal and financial information from the relevant financial institution. You agree to your personal and financial information being transferred, stored, and processed by Plaid in accordance with the Plaid Privacy Policy

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