$90m · Series B · Fintech · Paris, France
Paris-based Spiko has raised a $90m Series B led by New Enterprise Associates. Index Ventures, Bpifrance, Speedinvest, Flourish Ventures, Shapers, White Star Capital, Blockwall, Frst, EQNX, Mirana Ventures and Wintermute Ventures also participated, alongside angels including former Bundesbank president Axel Weber and the founders of Qonto. The round brings total disclosed funding to $120m. Spiko says it will launch new funds, enter additional markets and expand its European team.
Spiko designs and distributes regulated money-market funds that businesses and individuals can access through its app, while financial platforms can embed the products through an API. The funds cover euros, dollars, sterling and Swiss francs. Their shares are issued on public blockchains, allowing balances and ownership to plug into software workflows while the underlying products remain regulated funds rather than stablecoins.
Cash management becomes a software workflow
The product is aimed at a familiar treasury problem: companies need enough cash available for payroll and suppliers, but excess balances can sit idle. Spiko wants finance teams to define rules that automatically withdraw upcoming operating needs and allocate surplus cash to liquid or fixed-term funds. Those rules can be adjusted through its API by a treasury-management system or, eventually, an AI agent.
Tokenization matters here as infrastructure rather than as a speculative asset. Recording fund shares on a ledger that operates continuously can make subscriptions, redemptions and ownership easier for software to coordinate. Spiko already offers instant withdrawals and says real-time interest calculation is next. The commercial opportunity is to become the cash layer inside other financial products and company systems, so distribution comes through both direct accounts and embedded integrations.
Scale raises the trust and execution bar
Spiko reports $2.7bn placed in its funds, up more than fivefold in twelve months, with more than 10,000 businesses and individuals across over 25 countries. Those are company figures, but they show why the next phase is less about proving demand than expanding the range of cash products and the jurisdictions in which they can be sold.
That expansion depends on operational trust. Spiko says it is licensed and supervised in France as an investment firm and that client assets are held by CACEIS Bank rather than on its own balance sheet. Its technology still has to work across local distribution, compliance and treasury practices as it builds teams in Germany, Italy, Spain, the Netherlands and the Nordics. The Series B gives Spiko capital to widen the product and geographic footprint; the execution test is whether automation can scale without weakening liquidity, controls or customer confidence.
Sources checked:
Spiko announcement · NEA investment thesis · Tech.eu reporting · The Block reporting · Spiko company page · Tech.eu Funding Explorer
