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 .5 percent 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.