Technology platform and bank Jiko announced closing a $29 million Series C funding round led by Upfront Ventures, with participation from Airbus Ventures, Red River West, Radicle Impact, and other undisclosed investors.
The new capital strengthens Jiko’s position in the institutional and enterprise markets as it expands access to U.S. Treasury bills through its digital platform, per the announcement.
Jiko offers a platform for real-time purchase and management of Treasury bills (T-bills) via Jiko Pockets, a solution allowing corporate clients to manage digital pockets of cash programmatically, 24/7.
The platform provides a secure alternative to traditional investments like leveraged bank deposits and money market funds. Clients benefit from a fully integrated trading desk, banking charter, and cloud-based infrastructure, which have supported over $10 billion in T-bill trades.
Jiko’s platform enables treasury teams to manage corporate cash through an online dashboard, enterprise APIs, and integrations with Treasury Management platforms. The service aims to provide corporate clients with direct access to risk-free Treasury yields while enhancing liquidity and financial flexibility.
In addition to securing funding, Jiko plans to add Scott Richland, Chief Investment Officer at the California Institute of Technology, Steve Shafran, Senior Advisor at Centerbridge, and Barbara Yastine, former Ally Bank Chairperson and CEO, to its board of directors.
The appointments are pending regulatory approval and are expected to bring deep banking and asset management expertise to support Jiko’s growth.
Jiko has also formed an advisory committee chaired by Jean-Luc Robert, former CEO of Kyriba, with members including former Treasury Secretary Lawrence Summers, former FDIC Chair Sheila Bair, Meta’s Chief Strategy Officer David Wehner, and Coinbase’s Head of Institutional Product Greg Tusar.
The committee will guide Jiko on regulatory trends and industry best practices.
With the fresh capital, Jiko plans to expand its reach, addressing growing demand for T-bill-backed cash management solutions across sectors. The platform’s innovation and security are attracting more clients seeking efficient, risk-free treasury management solutions.