Spiko raises $90M Series B led by NEA to expand tokenized cash funds

Spiko, a Paris startup that puts money market fund shares on public blockchains, closed a $90 million Series B on Oct. 6 led by New Enterprise Associates. Total funding since its 2023 founding now stands at about $120 million, Crypto Briefing reported in Oct. 6 coverage.

Existing backers Index Ventures and White Star Capital returned for the round. New investors include Axel Weber, the former president of the Bundesbank, in that same account.

Tech.eu, in its Oct. 6 report, added Speedinvest to the participant list alongside Index Ventures and White Star Capital. The outlet also named angel investors including the founders of Qonto and Weber.

The prior round was smaller. Spiko Series A in July 2025 raised $22 million led by Index Ventures, with angel investors including Nikolay Storonsky of Revolut, Crypto Briefing noted in the same piece.

Assets have grown faster than the funding. Spiko held $2.6 billion to $2.7 billion under management as of late September 2026, after crossing $1 billion in February 2026 and $2 billion in July 2026. That pace puts about $1 billion of growth inside five months, in that write-up.

The company describes itself as the leading tokenized fund issuer in Europe. Its funds hold mainly Eurozone and U.S. Treasury bills and are backed by sovereign bills or collateralized swaps, with interest accruing daily and shares moving onchain instead of waiting on traditional settlement, that report says.

Regulation is part of the pitch. Spiko operates under the oversight of the AMF, the French financial markets regulator, and its funds follow the UCITS rulebook for retail-accessible EU investment funds. Issuance runs across several blockchains, with Stellar and Ethereum among them, Crypto Briefing wrote in the same article.

A stablecoin link arrived this month. Spiko announced a partnership with Fipto that lets investors move straight from EURC and USDC balances into its funds through platforms such as Coinhouse, in that summary.

Co-founder and CEO Paul-Adrien Hyppolite framed the goal as universal yield. "Every person and every organisation holds cash, yet whether it earns anything still depends on who you are and how much you have," he said. "Yield should be universal. Our ambition is to make all cash earn by default, around the clock." Tech.eu carried the remarks in its report.

The company points at a cash yield gap between Europe and the United States. The two regions hold around $50 trillion in cash and deposits, much of it earning little or nothing, while banks and large institutions can tap wholesale markets that smaller businesses, entrepreneurs, nonprofits and financial institutions often cannot reach, in that account.

Spiko sells its funds as a treasury tool for businesses and smaller companies. A mid-sized firm could earn yield on surplus cash with daily accrual and quick withdrawal without the paperwork of a traditional institutional setup, in that same report.

Products span the euro, the U.S. dollar, sterling and the Swiss franc. Clients include startups, scaleups, research institutes, public institutions, venture capital funds and medical practices, Tech.eu noted in its piece.

The funds are built to move with software rather than market hours. Spiko offers instant withdrawals today and plans yield that accrues continuously, with fund rules that sweep excess operating cash into liquid products and allocate idle cash to fixed-term options. Treasury systems or AI agents can adjust those rules through an API, in the same report.

Spiko positions directly against the largest incumbents. The company calls itself the largest issuer of tokenised cash funds in the world, ahead of BlackRock and Franklin Templeton, a claim the company makes in that write-up.

The new money goes to products, markets and hiring. Spiko plans to launch additional funds, enter new markets and grow its team from hubs in Paris and London, with local teams building across Germany, Italy, Spain, the Netherlands and the Nordics, in the closing lines of that report.