Spiko

Fintech · Tokenization · Treasury

Funding

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

Assets under management have more than quintupled to $2.7 billion in a year, putting the French startup ahead of giants like BlackRock in fund count.

• Spiko closed a $90 million Series B led by New Enterprise Associates (NEA), with Index Ventures, Bpifrance, Speedinvest and White Star Capital also participating, bringing total funding to $120 million.
• The Paris- and London-based startup, founded in 2023 by Paul-Adrien Hyppolite and Antoine Michon, builds regulated money-market funds whose shares are issued on public blockchains including Ethereum and Stellar.
• Spiko's assets under management have surged more than fivefold in a year to about $2.7 billion, crossing $1 billion in February 2026 and $2 billion by July 2026.
• Bloomberg Law reported the round values Spiko at $800 million, up sharply from its Series A, a $22 million round led by Index Ventures in July 2025.
• The funds are UCITS-compliant and regulated by France's AMF, holding Eurozone and US Treasury bills while offering instant withdrawals across euro, dollar, sterling and Swiss franc products.
• The capital will fund new cash and fixed-term products, expansion into markets like Germany, the Nordics, Italy, Spain and the Netherlands, and a move toward real-time interest accrual.
• Spiko's growth signals institutional cash is shifting from idle bank deposits to blockchain-based treasury tools, positioning tokenized fund issuers to compete directly with incumbents like BlackRock and Franklin Templeton.