Committed to powering the world’s liquidity with its unique T-bill platform, Jiko announces new additions to its corporate board and unveils the formation of its distinguished advisory committee.
Jiko, the technology platform and bank that provides seamless access to U.S. Treasury bills, announced the completion of 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.
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“This funding round is a testament to the trust our investors have in Jiko’s mission,” remarks Stephane Lintner. “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.”
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Jiko has also established a dedicated advisory committee to support Jiko’s mission and foster continued innovation in treasury management solutions. Jean-Luc Robert, former CEO and founder of Kyriba will chair the committee. He will be joined by former Treasury Secretary Lawrence H. Summers, former FDIC Chair Sheila Bair, Meta Chief Strategy Officer David Wehner, and Coinbase’s Head of Institutional Product, Greg Tusar. These seasoned advisors will offer guidance on industry trends, regulatory developments, and best practices, ensuring that Jiko remains squarely at the forefront of digital innovation to deliver unparalleled value and safety to even its most forward-leaning corporate clients.
“As a founder in the cloud and treasury space, I understand the need for modern, robust infrastructure that supports secure storage and seamless transfers,” said Jean-Luc Robert. “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.”
With this new infusion of capital, and the platform’s demonstrated scale, 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.
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Source – Businesswire
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