Jiko banks $40M in Series B funding to offer companies a way to park their cash in T-bills

Jiko started its life as a mobile bank for consumers. But over time, the fintech startup has evolved its model – mostly fueled by demand – and is now making a push into corporate money storage.
In 2020, Jiko made headlines by being the first fintech to acquire a nationally regulated U.S. bank. The company also was unique in another way: Rather than hold customer deposits, it used the funds to buy short-term Treasury bills (T-bills). 
Then last November, Jiko revealed it was pivoting from that consumer-focused model and “accelerating its business-to-business strategy,” as reported by Bank

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