Your Juno is a financial education platform for women and non-binary people focused on Millennials and Gen Z.
The goal is to make financial literacy universal for those who need it most.
They just completed their first funding round and raised $2.2 million from mostly female investors. They are now focused on building content so that Your Juno can become the only resource for financial education on any topic.
how it started
“The name Juno comes from the goddess of money, Juno Moneta. Money is named after her (a woman), so we thought it would be a good nod to take us back to that time,” says the co- founder Margot de Broglie.
Goddess Juno Moneta was an epithet of Juno and hence ancient Roman money was coined based on her name. The word “moneta” (from which the words “money” and “monetize” derive). In several modern languages, including Russian and Italian, moneta (Spanish moneda) is the word for “coin”, according to Peter Aicher, who wrote Rome Alive: A Source-Guide to the Ancient City Volume I.
The app was created during the pandemic as they found the topic of investing had become extremely popular among their friends.
“We quickly noticed that our conversations with our male and female friends were very different. Most of the guys had clear portfolio strategies, while most of our friends kept their money in savings, feeling like they didn’t know enough.
After hosting a mini-course with friends and their network, the founders saw that there was an appetite for reliable and engaging financial education.
“We want to encourage people to learn and embrace finance as an integral part of their ‘adulthood’. We are always amazed that many of these essential tools are not incorporated into education at secondary or higher level.
“It may seem drastic to build something specifically for women, but we have to realize that so far the fintech industry has been mostly built by men for men. And while that may or may not be a conscious effort on the part of leaders, this is undoubtedly a byproduct of a systemic lack of diversity across the entire tech industry.
“Women just make up 30% of fintech staff, and this picture gets even worse when you get to leadership. According to Atomic. This carries over to the user base of these products: if you look at investment platforms, women make up only 24% of app users. It’s even worse with crypto. Women only make up 7% of crypto holders, so instead of this gap narrowing with new financial innovations, it is widening,” says De Broglie.
Additionally, a report of Ernest and Young shows that women’s capital and incomes are growing faster than ever.
Powerful demographic, economic and technological changes are increasing women’s financial strength and independence.
Women may soon control most of the wealth in American households. Because of this power and the relative complexity of their financial lives, women represent a huge opportunity for the financial sector.
Despite this, most don’t give much importance to gender segmentation. It’s hardly surprising that many female investors feel unwelcome and even alienated by the investment industry.
The study also showed that women commonly use terms such as “unwelcoming”, “condescending”, “male-dominated” and “full of jargon” to describe the wealth management and financial industry more broadly.
Globally, 67% of female investors believe their wealth manager or private banker misunderstands their goals or cannot understand their lifestyle. In some key markets, such as the UK, China (Mainland), Singapore and Hong Kong, the number is even higher.
So there is a gap for a financial education app specifically targeting women.
De Broglie says, “The earlier a person begins to develop strong financial habits, the greater the impact on their life. For example, we see this with investing, where time in the market has the biggest impact on returns. The same goes for salary negotiations – if you start negotiating your salaries in your first job, it sets the basis for any future salary and can compound life-changing salary differences. That’s why we specifically focus on Millennials and Generation Z, to help them build those financial foundations early on. »
According to the Ernest and Young report, women have distinct and complex preferences.
Women are more financially powerful than ever and may even represent the bulk of personal wealth in some markets.
Yet there are few tailored experiences and financial investment and savings products for women that recognize their formal and informal goals and soft preferences.
Therefore, it is questionable whether education alone is sufficient. Financial inclusion may also need to focus on creating financial products and services that appeal to women, and having space for all of this could create more inclusion.
However, explains De Broglie, “at the moment, the focus is solely on providing unbiased financial education. This allows us to have the interests of our users at heart, without aiming to sell them a financial product at the same time.
Your Juno also hosts conferences such as “Investing for Beginners, Crytpo 101” and more, and they work with their online community to develop future content and have a growing social media presence with nearly 18,000 followers on their social media platforms, which clearly shows that is an integral part of their strategy. “Social media is playing a huge role in normalizing financial conversations – more than half of Gen Z now turn to TikTok for financial advice.”
“Where finance meets feminism”
“Knowledge = power. We give women the confidence, clarity and control to take charge of their financial future. This has a ripple effect not only in their own lives, but also in society. Women are known to have a greater societal impact on their wives: they give more to philanthropy, care more about ethical investing, and vote with their money. Overall, everyone will benefit from women having more money, illustrious De Broglie.
You can download the Your Juno app from the Apple and Android stores.
- About the Author
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Helen Femi Williams is a freelance journalist and podcaster interested in fintech, politics, economics and their intersections.
Prior to this role, she worked as an innovation consultant developing insurtech and fintech products and ideas for brands, startups and large corporations. She studied International Relations at the University of Nottingham (UK and Malaysia).