Financial Identity Startup Juvo Brings In $40 Million

Juvo completed $40 million in Series B financing. Three investors participated in the round: New Enterprise Associates, Wing Venture Partners, and SignalFire.

Juvo was founded with the goal of establishing financial identities for the billions of people worldwide who are creditworthy yet financially excluded from mainstream credit functions. In partnership with mobile network operators, Juvo’s proprietary “Identity Scoring” technology uses data science, machine learning, and game mechanics to create an identity-based relationship for anonymous prepaid users, opening up access to otherwise unattainable mobile financial services.  

The San Francisco-based company revealed that Juvo will use the new funds to drive global growth and scale, with a particular emphasis on Asia, Latin America, and Europe. The company will also broaden its suite of financial service offerings targeting the financially excluded.