Spiko, a fintech startup that issues tokenized money market funds on a blockchain, has secured $90 million in a Series B funding round. The investment was led by New Enterprise Associates (NEA), with participation from Index Ventures, Bpifrance, Speedinvest, Flourish Ventures, and others. This latest round brings the company's total funding to $120 million.
Founded in 2023 by former French Treasury official Paul-Adrien Hyppolite and Antoine Michon, the company operates out of London and Paris. Spiko designs regulated cash funds in euros, dollars, sterling, and Swiss francs. These products are accessible to businesses via a desktop and mobile app or through an API for financial platforms.
The startup currently manages $2.7 billion in assets, representing a fivefold increase over the past 12 months. Its client base includes over 10,000 businesses and individuals across more than 25 jurisdictions. The company plans to use the new capital to launch additional funds, expand into new markets, and grow its local teams across Europe.
Spiko competes in a sector where other firms like Midas, Axiology, Theo, and Fnality have also raised capital. While Spiko holds a small fraction of the global money market fund pool, which reached $13.72 trillion by the end of the second quarter of 2026, it aims to provide programmable cash management through blockchain technology.
