Jiko secures $29m Series C funding to innovate treasury management

December 16, 2024

Jiko, a technology platform and bank focused on transforming treasury management, has completed a $29m Series C funding round.

The investment was led by existing backer Upfront Ventures, with participation from Airbus Ventures, Red River West, Radicle Impact, and other undisclosed investors.

Jiko’s platform provides seamless access to U.S. Treasury bills, enabling corporate clients to manage their cash with security and flexibility. Through its core product, Jiko Pockets, the platform allows users to programmatically purchase and sell T-bills 24/7, offering a safer and more flexible alternative to traditional money market funds or leveraged bank deposits. The company’s integrated digital trading desk and cloud-based infrastructure have facilitated over $10bn in T-bill trades to date.

The new funding will be used to expand Jiko’s operations and enhance its platform as demand grows across sectors. Jiko plans to scale its offerings to meet the increasing interest in T-bill-powered solutions for corporate cash management.

As part of its growth strategy, Jiko will strengthen its leadership by adding seasoned professionals to its board of directors, pending regulatory approval. The additions include Scott Richland, chief investment officer at the California Institute of Technology, Steve Shafran, senior advisor at Centerbridge, and Barbara Yastine, former chairperson and CEO of Ally Bank.

Jiko founder and CEO Stephane Lintner said, “This funding round is a testament to the trust our investors have in Jiko’s mission.

“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.”

Scott Richland, chief investment officer at the California Institute of Technology, commented on Jiko’s disruptive potential, stating, “Jiko’s platform represents a disruptive innovation for anyone holding cash in traditional money market funds.

“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.”