Spiko, a Paris-headquartered fintech developing tokenized cash funds and treasury infrastructure, has raised $90 million in a Series B funding round led by New Enterprise Associates (NEA). The round included participation from Index Ventures, Bpifrance, Speedinvest, Flourish Ventures, Shapers, White Star Capital, Blockwall, Frst, EQNX, Mirana Ventures and Wintermute Ventures. Axel Weber, former president of Germany’s Bundesbank, and the founders of Qonto also participated as angel investors. The financing brings Spiko’s total funding to $120 million.
Founded in 2023 by Paul-Adrien Hyppolite and Antoine Michon, Spiko develops regulated cash management products and infrastructure designed to give businesses, individuals and financial platforms access to yield-bearing cash funds. Its products can be accessed through its applications or integrated into financial platforms through APIs. Spiko currently offers cash management products across euros, US dollars, sterling and Swiss francs.
Spiko said more than 10,000 businesses and individuals across over 25 jurisdictions use its funds, which have reached about $2.7 billion in assets under management. Customers include startups, research institutes, public institutions, venture capital funds and medical practices.
The company plans to use the Series B financing to launch additional funds, enter new markets and expand its team as it grows its operations across Europe.
