**Spiko Raises $90 Million Series B, Becomes Largest Issuer of Tokenised Cash Funds**
Spiko, a Paris and London-based fintech that issues tokenised cash funds, has closed a $90 million Series B round led by New Enterprise Associates (NEA), bringing its total funding to $120 million. The round drew participation from a deep bench of institutional and strategic investors, including Index Ventures, Bpifrance, Speedinvest, Flourish Ventures, Shapers, White Star Capital, Blockwall, Frst, EQNX, Mirana Ventures, and Wintermute Ventures. Angel investors included Axel Weber, former president of the Bundesbank, the founders of Qonto, and Revolut co-founder and CEO Nik Storonsky. The raise positions Spiko among Europe’s most heavily backed fintech startups and signals growing investor appetite for regulated, yield-bearing digital cash products.
**What Spiko Does and How It Works**
Spiko designs its own regulated cash funds—ranging from products with intraday liquidity to fixed-term offerings—denominated in euros, dollars, sterling, and Swiss francs. Businesses access them through a desktop and mobile app, while other companies and financial platforms can embed the funds into their own products via API. The company’s regulatory foundation is a key differentiator: Spiko Finance is licensed as an investment firm by France’s Prudential Control and Resolution Authority (ACPR), and client money is held by CACEIS Bank, part of the Crédit Agricole group. The funds are issued onchain, on the same rails as stablecoins and smart contracts, and treasury rules can be automated—keeping enough in the operating account for payroll and suppliers, moving the rest into instantly accessible funds, and allocating quarter-ahead cash to higher-rate fixed-term products. A company’s treasury management system—or an AI agent acting on its behalf—can adjust those rules through the API, with instant withdrawals available today and hourly yield accrual coming soon.
**Rapid Growth and Market Position**
Spiko now manages $2.7 billion, up more than fivefold over 12 months—a striking trajectory from the $400 million it reported when it raised a $22 million Series A led by Index Ventures in July 2025. More than 10,000 businesses and individuals across over 25 jurisdictions use its funds, either directly or through platforms that embed them, including startups, scale-ups, research institutes, public institutions, VC funds, and medical practices. According to the company, citing data from RWA.xyz, it is now the largest issuer of tokenised cash funds, ahead of BlackRock and Franklin Templeton. NEA’s Philip Chopin said the firm reviewed dozens of companies addressing pieces of the problem, adding, „We believe Spiko is the only one that’s solved the regulatory piece and the product piece at the same time.”
**Founders, Mission, and What Comes Next**
Spiko was founded in 2023 by CEO Paul-Adrien Hyppolite, a former deputy head of the financial markets division at the French Treasury, and Antoine Michon, a former technology adviser to the French government who previously led deployments at Palantir. Hyppolite frames the company’s mission around access: „Every person and every organization holds cash, yet whether it earns anything still depends on who you are and how much you have. Yield should be universal.” The new capital will fund the launch of new funds, expansion into new markets, and team growth, with Spiko building local teams in Germany, Italy, Spain, the Netherlands, and the Nordics. With a regulated product, heavyweight backers, and surging assets under management, Spiko is betting that tokenised cash funds will become standard treasury infrastructure for businesses worldwide.
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Forrás: https://thenextweb.com/news/spiko-90m-series-b-nea-tokenised-cash-funds.