Spiko raises $90m as it targets US expansion in tokenized cash funds
The Paris fintech has secured NEA-led funding to expand its cash-fund business, bringing its blockchain-based treasury platform into closer competition with BlackRock.
Paris-based Spiko has raised $90 million in a Series B led by US venture capital firm New Enterprise Associates, financing an expansion of its tokenized cash-fund business that Crypto Briefing reports will include the United States. Announced on October 6, 2026, the round brings total funding to $120 million for the company founded in 2023.
The financing puts a US investor behind a European challenger to established asset managers in the business of investing spare cash. Spiko reports $2.7 billion in assets under management and more than 10,000 business and individual users across over 25 jurisdictions, accessing its funds either directly or through financial platforms.
The American ambitions remain less defined than the funding. Spiko’s announcement identifies new funds, new markets and team growth as the uses of proceeds, but does not specify a US launch date, office, hiring target or regulatory pathway. Its disclosed operating hubs are Paris and London.
A larger funding round after rapid asset growth
Returning investors Index Ventures and White Star Capital joined the round alongside backers including Bpifrance, Speedinvest and Flourish Ventures. Angel investors included former Bundesbank president Axel Weber and the founders of Qonto. The financing follows a $22 million Series A led by Index in July 2025, according to Crypto Briefing.
Assets have grown faster than the funding history alone suggests. Spiko crossed $1 billion under management in February 2026 and $2 billion in July, Crypto Briefing reported. The company says its latest $2.7 billion total represents more than fivefold growth over the preceding 12 months.
That scale underpins its competitive pitch. In its announcement, Spiko describes itself as the world’s largest issuer of tokenized cash funds, ahead of BlackRock and Franklin Templeton, citing data platform RWA.xyz. The claim concerns the tokenized cash-fund segment, not the companies’ overall asset-management businesses.
Selling treasury automation, not just tokens
Spiko issues fund shares on public blockchains, including Ethereum and Stellar. Its products give customers access to regulated cash investments through desktop and mobile applications, while an application programming interface allows other companies and financial platforms to embed the funds in their own services.
Its range spans euros, US dollars, sterling and Swiss francs, with clients including startups, venture capital funds, research institutes and medical practices. The company says its funds currently offer instant withdrawals and that continuously accruing yield, every hour of every day, is planned rather than already available.
The broader proposition is automated treasury management. A finance team can set rules to retain enough cash for payroll and suppliers, move excess balances into a liquid fund and allocate money not needed immediately to fixed-term products. Treasury software can adjust those instructions through Spiko’s API.
“Our ambition is to make all cash earn by default, around the clock,” co-founder and chief executive Paul-Adrien Hyppolite said in the funding announcement. An October partnership with Fipto also allows investors to move EURC and USDC stablecoin balances into Spiko funds through platforms including Coinhouse, according to Crypto Briefing.
The US presents a different competitive test
Spiko’s European pitch addresses what it describes as a gap in convenient access to cash yield, particularly for smaller businesses. In the United States, where money market products are already widely used, the strategic test is different: whether blockchain transfers, embedded distribution and treasury automation offer customers enough reason to choose a newer provider over established managers.
The company already offers exposure to US government debt, but that should not be confused with a confirmed American market launch. Forbes’ description of its US T-Bills Money Market Fund identifies it as an EU-regulated dollar fund approved by France’s financial markets authority, investing exclusively in US Treasury bills with maturities below six months.
For now, Spiko has disclosed more concrete expansion activity in Europe, where it is building local teams in Germany, Italy, Spain, the Netherlands and the Nordics. NEA’s backing adds capital for the next stage; the scope and execution of a US entry remain to be detailed.
