Spiko secures ninety million dollars to expand tokenised cash funds across Europe

Spiko has secured $90 million in a Series B investment round, lifting its overall funding to $120 million.

The round was led by New Enterprise Associates, with backing from Index Ventures, Speedinvest, Bpifrance, and several other venture firms. Angel investors include former Bundesbank president Axel Weber, Revolut co-founder Nik Storonsky, and the creators of business finance service Qonto.

Operating across Paris and London, Spiko designs regulated investment funds that place cash reserves onto public digital ledger networks. The company pitches its products as an equal-access way for businesses of any size to earn interest on cash holdings.

Clients can open accounts and monitor balances using mobile and desktop software. Third-party software providers and fintech applications can also integrate the funds directly through an application programming interface.

The assets are denominated in euros, US dollars, British pounds, and Swiss francs. Available products range from flexible accounts offering immediate withdrawals to term deposits that lock up capital for higher yields.

Because the fund shares exist on the same network infrastructure as stablecoins and smart contracts, corporate treasurers can automate how their capital moves. A finance team can designate an exact operating balance for near-term expenses such as payroll and supplier invoices, while routing surplus capital into yield-bearing holdings.

These rules function continuously rather than relying on standard commercial banking hours. Treasury management platforms or automated software agents can modify balance limits and routing parameters dynamically via the API.

Spiko currently reports $2.7 billion in assets under management, representing a fivefold rise over the previous twelve months. More than 10,000 businesses and private savers in over 25 countries use the service, spanning tech startups, university laboratories, public bodies, venture firms, and medical clinics.

Relying on industry figures from analytics platform RWA.xyz, Spiko says its current volume places it ahead of legacy financial firms such as BlackRock and Franklin Templeton in the market for digital-ledger cash instruments.

To meet institutional requirements, the startup maintains an investment firm licence from France's Prudential Control and Resolution Authority. Customer deposits are kept off-balance-sheet with CACEIS Bank, an asset servicing arm of Crédit Agricole.

The business was set up in 2023 by chief executive Paul-Adrien Hyppolite, a former financial policy deputy at the French Treasury, and chief operating officer Antoine Michon, who previously advised the French government on technology and led software deployments at Palantir.

The newly raised capital will fund the release of additional financial products, support ongoing technical development such as hourly interest accumulation, and finance local commercial teams across Germany, Italy, Spain, the Netherlands, and the Nordic countries.