Jiko Secures $29 Million in Series C Funding to Revolutionize Corporate Treasury Management with Digital U.S. Treasury Bill Access
Jiko, a San Francisco-based technology platform and bank, has successfully secured $29 million in Series C funding. This significant investment was led by Upfront Ventures, with participation from Airbus Ventures, Red River West, Radicle Impact, and other undisclosed investors. The funding round underscores the confidence investors have in Jiko’s mission to provide seamless access to U.S. Treasury bills, offering unparalleled financial flexibility and control to globally operative clients.
The company’s platform connects corporate treasurers directly to the U.S. government’s yield and full faith, enabling treasury teams to innovate beyond existing workflows with the peace of mind that their investments earn the risk-free treasury rate at all times. This innovative approach addresses a critical gap in the corporate treasury space, which has long been underserved by outdated systems.
With this new infusion of capital, Jiko plans to expand its presence to meet the growing demand for the safety of T-bills across all sectors. The company’s commitment to innovation and security has already attracted a growing list of clients who are reaping the benefits of hassle-free T-bill-powered Jiko Pockets.
In addition to the funding, Jiko has announced the addition of new members to its board of directors, pending required regulatory approvals. Scott Richland, Chief Investment Officer of the California Institute of Technology, Steve Shafran, Centerbridge Senior Advisor, and Barbara Yastine, former Ally Bank Chairperson and CEO, will bring 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.
Jean-Luc Robert, former CEO and founder of Kyriba, expressed his support for Jiko’s mission, stating, “Corporate Treasury has long been underserved with outdated systems, and Jiko addresses a critical gap with its innovative digital platform. I’m thrilled to bring my experience to this mission and support Jiko as they modernize treasury management with the technology and agility that today’s companies need.”
Jiko’s platform has demonstrated significant scale, and with this new funding, the company is poised to further establish itself as a major player in the institutional and enterprise market. The investment will also see Upfront Ventures board partner Steve Shafran join Jiko’s board of directors, alongside Barbara Yastine and Scott Richland.
Founded in 2016, Jiko combines online bank accounts with automated investments in U.S. Treasury bills. Banking services are provided through Jiko Bank, which operates as a division of Mid-Central National Bank, acquired by the group in 2020. The company’s previous funding round, a $40 million Series B led by Red River West in 2022, has been followed by this latest Series C funding, which will be used to expand Jiko’s presence and meet the growing demand for T-bills.
Overall, Jiko’s successful Series C funding round and the addition of new board members signal the company’s continued growth and commitment to innovation in the corporate treasury space. With its robust platform and experienced leadership, Jiko is well-positioned to meet the evolving needs of its clients and further establish itself as a leading player in the industry.