Key Takeaways
- • Spiko raised $90 million in Series B funding led by New Enterprise Associates (NEA), bringing total funding to $120 million and establishing the fintech as a major player in tokenized cash funds with $2.7 billion in assets under management.
- • The round included participation from Index Ventures, Speedinvest, and White Star Capital, plus angel investors including Qonto founders and Axel Weber, former president of the Bundesbank, signaling institutional confidence in the cash yield opportunity.
- • Spiko addresses a $50 trillion opportunity in Europe and the US, where vast pools of cash held by smaller businesses, nonprofits, and financial institutions currently earn minimal returns due to limited access to wholesale financial markets.
- • The company will deploy capital to launch additional cash funds, enter new geographic markets, and expand its European team while developing continuous yield accrual and next-generation cash management capabilities.
- • Spiko's tokenized regulated cash funds span multiple currencies (euro, US dollar, sterling, Swiss franc) with instant withdrawal liquidity and API integration enabling embedded finance distribution through partner platforms.
Summary
Spiko, a fintech provider specializing in tokenized cash funds, has secured $90 million in Series B funding led by venture capital firm New Enterprise Associates (NEA), which manages over $38 billion in assets under management. The round elevated Spiko's total funding to $120 million and reflects strong institutional backing for its mission to democratize access to yield on cash holdings. Index Ventures, Speedinvest, and White Star Capital participated alongside prominent angel investors, including the founders of fintech unicorn Qonto and Axel Weber, the former president of Germany's Bundesbank—a credential that adds regulatory and banking sector credibility to the cap table.
The funding addresses a significant market gap. Approximately $50 trillion in cash and deposits sit idle across Europe and the United States, earning little to no return. While large institutions and corporations can access wholesale financial systems to generate yield on cash, smaller enterprises, nonprofits, venture capital funds, research institutes, and other institutional players lack equivalent access. Spiko's platform bridges this disparity by offering regulated, tokenized cash funds with varying liquidity profiles—from sub-daily redemptions to fixed-term structures—accessible via desktop and mobile applications or integrated through API partnerships with financial platforms and service providers.
Spiko currently manages $2.7 billion in assets across regulated cash products denominated in euro, US dollar, sterling, and Swiss franc. The company's client base spans startups, scaleups, research institutions, public entities, venture capital funds, and medical practices. The platform features instant withdrawals and is developing continuous yield accrual functionality to align with the increasing need for cash to move seamlessly through software infrastructure independent of traditional market hours and banking constraints.
The Series B proceeds will fund the launch of new cash fund offerings, geographic expansion into additional markets, and team growth across Europe as Spiko scales its infrastructure. Co-founder and CEO Paul-Adrien Hyppolite framed the raise as a step toward universal yield access: "Every person and every organisation holds cash, yet whether it earns anything still depends on who you are and how much you have. Yield should be universal."
The funding addresses a significant market gap. Approximately $50 trillion in cash and deposits sit idle across Europe and the United States, earning little to no return. While large institutions and corporations can access wholesale financial systems to generate yield on cash, smaller enterprises, nonprofits, venture capital funds, research institutes, and other institutional players lack equivalent access. Spiko's platform bridges this disparity by offering regulated, tokenized cash funds with varying liquidity profiles—from sub-daily redemptions to fixed-term structures—accessible via desktop and mobile applications or integrated through API partnerships with financial platforms and service providers.
Spiko currently manages $2.7 billion in assets across regulated cash products denominated in euro, US dollar, sterling, and Swiss franc. The company's client base spans startups, scaleups, research institutions, public entities, venture capital funds, and medical practices. The platform features instant withdrawals and is developing continuous yield accrual functionality to align with the increasing need for cash to move seamlessly through software infrastructure independent of traditional market hours and banking constraints.
The Series B proceeds will fund the launch of new cash fund offerings, geographic expansion into additional markets, and team growth across Europe as Spiko scales its infrastructure. Co-founder and CEO Paul-Adrien Hyppolite framed the raise as a step toward universal yield access: "Every person and every organisation holds cash, yet whether it earns anything still depends on who you are and how much you have. Yield should be universal."
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.