A California company offering a cashback debit card has raised $7.7m of series A funding from investors including Radical Impact and Social Capital, Upfront Ventures. Jiko describes itself as a "personal bank" and a technology company, and is not covered by US federal banking insurance. Users of its card will have their money invested in US Treasury bonds, and receive at least 0.5% cashback from the company on their transactions. It is aiming for a public launch early next year.
A California company offering a cashback debit card has raised $7.7m of series A funding from investors including Upfront Ventures, Radical Impact and Social Capital. Jiko describes itself as a "personal bank" and a technology company, and is not covered by US federal banking insurance. Users of its card will have their money invested in US Treasury bonds, and receive at least 0.5% cashback from the company on their transactions. It is aiming for a public launch early next year.