Key Takeaways
- • Spiko raised a $90 million Series B led by New Enterprise Associates (NEA), bringing its total funding to $120 million, according to a Business Wire announcement.
- • Spiko reports $2.7 billion in assets under management across regulated cash funds in four currencies, more than fivefold AUM growth over the past 12 months, and over 10,000 users in 25+ jurisdictions.
- • The company says it now ranks ahead of BlackRock and Franklin Templeton as the largest issuer of tokenized cash funds.
- • Spiko is positioning its onchain, programmable cash funds to earn yield 24/7 and to let businesses automate treasury management via API, including for AI agents.
- • Proceeds will fund new fund launches, new European markets including Germany, Italy, Spain, the Netherlands and the Nordics, and team growth.
Summary
Spiko, a London- and Paris-based tokenized cash fund issuer, announced a $90 million Series B led by New Enterprise Associates (NEA), according to a Business Wire release dated October 6, 2026. Other participants include Index Ventures, Bpifrance, Speedinvest, Flourish Ventures, Shapers, White Star Capital, Blockwall, Frst, EQNX, Mirana Ventures and Wintermute Ventures. Angel investors include Axel Weber, former president of the Bundesbank, and the founders of Qonto. The round brings Spiko's total funding to $120 million. The company also states that Nik Storonsky, co-founder and CEO of Revolut, is among its investors.
The company frames its mission around the idea that cash yield is unevenly distributed. The release cites around $50 trillion in cash and deposits across Europe and the United States, most of which earns little or nothing, while central bank rates range from 2.5% in the euro area to close to 4% in the United States. Spiko's co-founder and CEO Paul-Adrien Hyppolite said the company's ambition is to "make all cash earn by default, around the clock." Spiko designs its own regulated cash funds, ranging from intraday liquidity to term products, in euros, dollars, sterling and Swiss francs. Businesses access them through desktop and mobile apps, and platforms can embed them via API. Clients include startups, research institutes, public institutions, VC funds and medical practices.
Spiko reports $2.7 billion in AUM, more than fivefold growth over the past 12 months, and says it now ranks ahead of BlackRock and Franklin Templeton as the largest issuer of tokenized cash funds. Its funds are issued onchain and offer instant withdrawals, with continuous yield accrual planned. The company argues that traditional money market funds, which operate on business-hours systems, leave cash idle for fintechs and stablecoin issuers. Philip Chopin, Managing Director and Head of Europe at NEA, said Spiko is "the only one that's solved the regulatory piece and the product piece at the same time."
The new capital will support launching new funds, entering new markets and expanding headcount. Spiko was founded in 2023 by Paul-Adrien Hyppolite, a former Deputy Head of the Financial Markets division at the French Treasury, and Antoine Michon, a former technology advisor to the French government who previously led deployments at Palantir. NEA, founded in 1977, reports more than $38 billion in AUM as of June 30, 2026.
The company frames its mission around the idea that cash yield is unevenly distributed. The release cites around $50 trillion in cash and deposits across Europe and the United States, most of which earns little or nothing, while central bank rates range from 2.5% in the euro area to close to 4% in the United States. Spiko's co-founder and CEO Paul-Adrien Hyppolite said the company's ambition is to "make all cash earn by default, around the clock." Spiko designs its own regulated cash funds, ranging from intraday liquidity to term products, in euros, dollars, sterling and Swiss francs. Businesses access them through desktop and mobile apps, and platforms can embed them via API. Clients include startups, research institutes, public institutions, VC funds and medical practices.
Spiko reports $2.7 billion in AUM, more than fivefold growth over the past 12 months, and says it now ranks ahead of BlackRock and Franklin Templeton as the largest issuer of tokenized cash funds. Its funds are issued onchain and offer instant withdrawals, with continuous yield accrual planned. The company argues that traditional money market funds, which operate on business-hours systems, leave cash idle for fintechs and stablecoin issuers. Philip Chopin, Managing Director and Head of Europe at NEA, said Spiko is "the only one that's solved the regulatory piece and the product piece at the same time."
The new capital will support launching new funds, entering new markets and expanding headcount. Spiko was founded in 2023 by Paul-Adrien Hyppolite, a former Deputy Head of the Financial Markets division at the French Treasury, and Antoine Michon, a former technology advisor to the French government who previously led deployments at Palantir. NEA, founded in 1977, reports more than $38 billion in AUM as of June 30, 2026.
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