Paris- and London-based fintech Spiko has raised $90 million in Series B funding as it expands a platform designed to turn idle company cash into programmable, yield-generating financial infrastructure.
The round was led by New Enterprise Associates and brings Spiko’s total funding to $120 million. Index Ventures, Bpifrance, Speedinvest, White Star Capital, Flourish Ventures and several other investors also participated, alongside angels including former Bundesbank president Axel Weber and the founders of Qonto.
Spiko is putting money-market funds on blockchain infrastructure
Spiko was founded by Paul-Adrien Hyppolite and Antoine Michon to broaden access to returns traditionally available through institutional cash-management products.
Rather than building another payment app, the company issues regulated cash funds on public blockchains. Its products allow companies and individuals to hold cash in euro, U.S. dollar, sterling and Swiss franc funds while maintaining liquidity.
Spiko says its funds now serve more than 10,000 businesses and individuals across more than 25 jurisdictions and manage $2.7 billion.
That asset base has grown rapidly. The Next Web reported that Spiko’s assets under management have increased more than fivefold over the past year.
The bigger product is programmable treasury management
The more consequential part of Spiko’s model is automation.
Its funds are built on-chain, allowing customers to make instant withdrawals around the clock while companies automate how excess cash moves between operating accounts and investment products.
A finance team could, for example, keep enough cash available for payroll and suppliers while automatically sweeping money above that threshold into a liquid fund. Spiko says treasury-management systems—or eventually software agents—can adjust those rules through its API.
That moves tokenization beyond cryptocurrency trading and toward conventional business finance.
Spiko is taking aim at much larger incumbents
The funding also places the European startup in increasingly competitive territory.
Bloomberg reported that Spiko was valued at roughly $800 million in the Series B, with the company seeking to compete in a market that includes asset-management giants such as BlackRock.
Spiko says Europe and the United States together hold around $50 trillion in cash and deposits, much of which earns limited or no return.
The startup plans to use its new capital to launch additional funds and establish local operations across markets including Germany, Italy, Spain, the Netherlands and the Nordics.
For European fintech, the larger signal is that blockchain infrastructure is gradually disappearing into ordinary financial products.
Spiko is not asking corporate treasurers to speculate on crypto. It is using tokenization to change how quickly money can move, earn yield and interact with software.
That may be where blockchain becomes most consequential for businesses: not as something users consciously trade, but as infrastructure quietly operating underneath their cash.
