SAN FRANCISCO — Jiko, a technology platform and bank that provides seamless access to U.S. Treasury bills, has completed a $29 million Series C funding round led by existing investors Upfront Ventures, with the participation from Airbus Ventures, Red River West, Radicle Impact and other undisclosed investors. This latest investment strengthens the company’s operating capital as it continues to establish itself as a major player in the institutional and enterprise market.
The Jiko platform provides clients with the flexibility to open and manage digital corporate pockets of cash in real time. Jiko’s foundational innovation, Jiko Pockets, allows clients to conveniently purchase and sell T-bills programmatically, 24/7, offering a safer alternative to traditional investment vehicles like leveraged bank deposits and money market funds. Jiko’s uniquely integrated digital trading desk, banking charter, and cloud-based infrastructure have helped clients trade over $10 billion in T-bills.
As a result, treasury teams can for the first time access, configure, and manage digital pockets of sensitive corporate cash through Jiko’s online corporate dashboard, Jiko’s secure enterprise API, and Jiko’s cutting-edge integrations into a growing list of world-leading Treasury Management platforms.
“This funding round is a testament to the trust our investors have in Jiko’s mission,” said Stephane Lintner, Jiko Founder and CEO. “By connecting corporate treasurers directly to the US government’s yield and full faith, we are witnessing an unparalleled unlocking of financial flexibility and control for our globally-operative clients. We love to see our platform help treasury teams innovate beyond existing workflows–with the peace of mind that their investments earn the risk-free treasury rate at all times.”
In addition, Jiko intends to add Scott Richland, Chief Investment Officer of the California Institute of Technology, Centerbridge Senior Advisor Steve Shafran, and former Ally Bank Chairperson and CEO Barbara Yastine, to its board of directors, pending required regulatory approvals. Each new board member brings seasoned experience from the banking and asset management sectors. These new board members will provide invaluable insight as the company continues to mature and broaden its influence in the corporate treasury space.
“Jiko’s platform represents a disruptive innovation for anyone holding cash in traditional money market funds,” said Scott Richland, Chief Investment Officer of the California Institute of Technology. “Jiko is challenging the status quo and delivering a level of security and flexibility that money market funds simply cannot provide. I am excited to join the board and support Jiko in its mission to disrupt the treasury market.”
