Oakland based debit card banking startup Jiko has raised a $7.7m Series A led by Upfront Ventures and Social Capital.
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Jiko raises $7.7 million for debit card with cash back
Jiko calls itself a “personal bank,” although it operates differently than a traditional bank account. It’s not an FDIC-insured bank. Instead, money from Jiko accounts is invested into U.S. Treasuries, which co-founder and CEO Stephane Lintner hopes will result in the highest yield. Jiko has “all the features of a functional bank just with way more efficiency,” claims Lintner. It’s a “building block that allows you to reclaim control over your data and your money.”
