The funding round was led by New Enterprise Associates, which manages over €33.78 billion. Existing investors including Index Ventures, Speedinvest, and White Star Capital also participated, alongside Bpifrance, Flourish Ventures, and others. Individual investors such as former Bundesbank president Axel Weber and the founders of Qonto also contributed to the round.
Founded in 2023 by Paul-Adrien Hyppolite and Antoine Michon, Spiko provides regulated cash funds accessible via web, mobile app, and API. The company utilizes blockchain infrastructure to issue tokenised funds, which it claims makes it the largest issuer in this sector globally. The platform currently manages over €2.4 billion in assets, marking a fivefold increase over the last year.
The service is available in four currencies: euro, dollar, pound sterling, and Swiss franc. It currently serves more than 10,000 clients across over 25 jurisdictions, including startups, research institutions, and medical practices. The company notes that its programmable cash approach allows businesses to automate treasury management and earn yield on idle capital.
Spiko intends to allocate the new capital toward launching additional funds, entering new markets, and expanding its workforce. The company currently maintains offices in Paris and London and is establishing a local presence in Germany, Italy, Spain, the Netherlands, and the Nordic countries.
