The e-commerce market is on track to pass $5.5 trillion in revenues this year, which speaks not only to how much consumers are shopping online these days, but also to how many businesses there are out there now selling to them. Today, a startup from Gothenburg, Sweden called Juni is announcing $206 million in funding -- a $100 million Series B and a further $106 million in debt -- to build out e-commerce-focused neobank, designed specifically to cater to that growing group of retailers with tools to help them run their business.

Mubadala Capital led the $100 million equity round, with previous backers EQT Ventures, Felix Capital, Cherry Ventures and Partners of DST Global also participating. Meanwhile, the $106 million in debt funding -- which Juni will use to fuel its credit products -- is coming from TriplePoint Capital.

Founded in 2020 and launched in 2021, Juni closed off its Series A only in October of last year (it raised $21.5 million in July and a further $52 million in October), but it's been on a very strong pace of growth -- "multiple hundred percent", CEO Samir El-Sabini said in an interview. (It didn't give actual customer numbers.) It's not disclosing its valuation but sources close to the company tell me it is now in the region of $800 million.

Most incumbent banks, and now a fair number of neobanks, target small and medium businesses as customers. But the gap in the market that Juni identified and built to fill is that the needs of e-commerce SMBs, and those doing business online in general, are unique among them.

E-commerce businesses have potentially huge incoming and outgoing sums in their accounts, and that money does not necessarily come in a consistent stream. They likely do business in multiple geographies and multiple suppliers. And in addition to potentially selling across a number of platforms and marketplaces (all of which also add complexity to the finances and managing them), they use a number of other digital tools both to sell, and to run and to help grow their operations.