Jiko, an Oakland, CA-based financial network to store and move money, raised $40m in Series B funding.
The round was led by Red River West, with support from Airbus Ventures, Trousdale Ventures, Owen Van Natta, Temaris & Associates, La Maison Partners, BPI France, Anthem Ventures, Upfront Ventures, and Radicle Impact.
The company intends to use the funds to expand operations and its business reach.
Led by CEO Stephane Lintner, Jiko new financial network, enabling companies – from multinational corporations to startups – to both store and move money, starting with the power of T-bills, made spendable.
The company also announced today the public launch of its money storage solution, enabling companies of all tiers – from multinational corporates to startups – to store money in spendable T-bills. Jiko Money Storage provides companies of all sizes and across industries with low-cost access to T-bills – thereby presenting a flexible alternative and complement to other money storage options. The platform also enables companies to conduct banking and financial activities in a secure manner. Cash is stored at leading custody bank BNY Mellon, put directly into T-bills with on-demand liquidity and will soon be made moveable 24/7 on the Jiko network.
Lintner co-founded the company after nearly a decade at Goldman Sachs leading strategies across multiple asset classes and brings a rich scientific sensibility to his pioneering work, with a PhD in applied and computational mathematics from Caltech. A trained physicist, he previously spent time leading a company pursuing nuclear fusion-based propulsion in space. With Jiko, he’s built an impressive leadership team with deep experience at organizations including the Federal Reserve Bank of New York, Acorns, and Snap, Inc.
FinSMEs
07/10/2022