JikoOakland-based financial network for moving and storing money has raised $40m in Series A 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 funds will be used by the company to expand its operations and 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. Companies can also conduct banking and other financial transactions securely through the platform. Cash is kept at the leading custody bank BNY Mellon and put into T-bills that provide liquidity on demand. The cash will soon be available 24/7 via the Jiko network.
After nearly a decade working at Goldman Sachs, Lintner founded the company. He has a PhD in applied mathematics and computational mathematics from Caltech and contributed to its founding. He is a qualified physicist who previously managed a company focused on nuclear fusion-based propulsion for 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.
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