Hassan Maishera
TL;DR
-
Spiko raised $90 million in a Series B led by New Enterprise Associates.
-
The round brings the tokenized cash-fund issuer’s total funding to $120 million.
-
Proceeds will support new funds, additional markets, and hiring across Europe.
-
Spiko reports $2.7 billion in assets under management and more than 10,000 users.
NEA Leads Spiko’s Latest Funding Round
Tokenized cash-fund issuer Spiko announced Tuesday that it raised $90 million in a Series B, securing capital to expand its products and geographic reach.
New Enterprise Associates led the round, joined by Index Ventures, Bpifrance, Speedinvest and Wintermute Ventures. Angel investors included former Bundesbank president Axel Weber, according to the company’s statement.
The financing brings Spiko’s total funding to $120 million. The London- and Paris-based firm plans to use the proceeds to launch additional funds, enter new markets and expand its team.
Its growth plans include local operations in Germany, Italy, Spain, the Netherlands and the Nordics. That would broaden its presence across Europe while supporting the distribution of its cash-management products.
Spiko designs and distributes its own regulated cash funds, which customers can access through web and mobile applications.
The company also offers an API that allows financial businesses to embed the funds into their own products. That gives Spiko two distribution routes: direct access for customers and integration through other financial platforms.
Its funds are denominated in euros, U.S. dollars, sterling, and Swiss francs, providing options across several major currencies.
Spiko reports $2.7 billion in assets under management, with more than 10,000 businesses and individuals using its funds across over 25 jurisdictions.
Those figures describe the scale of the existing business. The new financing will support its effort to extend that reach through additional products and local market operations.
Tokenization Makes Cash Management Programmable
Spiko issues its tokenized funds on multiple public blockchains, placing them on infrastructure also used by stablecoins and smart contracts.
According to the company, that structure allows businesses to make cash management programmable. Rather than handling every movement manually, firms can establish rules for transferring excess operating cash into funds.
The intended use combines putting spare cash to work with retaining access to money needed for payroll and other payments.
For example, a business could use rules to distinguish funds required for operating expenses from cash available for investment. Spiko’s description centers on automating that process through connected financial infrastructure.
Tokenization changes how fund interests can be accessed and incorporated into workflows. The products themselves remain regulated cash funds rather than simply becoming stablecoins because they use the same blockchain networks.
The Series B will fund both product development and geographic expansion. New funds would broaden Spiko’s offering, while additional markets would allow it to reach customers beyond its current footprint. Hiring and local operations are also part of the planned deployment of capital.
The company’s API provides another avenue for growth by allowing financial firms to introduce Spiko funds within services their customers already use.
Together, those plans suggest an expansion strategy built around direct distribution, embedded access and a wider range of products. The statement did not provide individual launch dates for the new funds or country operations.
Spiko Highlights Its Tokenized Cash-Fund Position
Spiko said its tokenized cash-fund range is now larger than those of BlackRock and Franklin Templeton, citing RWA.xyz data.
The comparison concerns tokenized cash funds specifically. It does not mean Spiko manages more assets overall than either investment firm.
That narrower distinction places the claim within the emerging market for blockchain-based fund distribution.
With $90 million in new financing, Spiko now has additional resources to expand that business. Its next phase will focus on launching products and entering markets while building on its reported $2.7 billion in assets under management.
