Spiko Raises $90M to Turn Idle Cash Into Programmable, Yield-Bearing Capital

Fintech company Spiko has raised $90 million in a Series B round led by New Enterprise Associates (NEA), taking the company’s total funding to approximately $120 million. Index Ventures, Speedinvest and White Star Capital returned for the round, joined by Bpifrance, Flourish Ventures, Shapers, Blockwall, Frst, EQNX, Mirana Ventures and Wintermute Ventures. Former Bundesbank president Axel Weber and the founders of Qonto also participated as angel investors.

Founded in Paris in 2023 by Paul-Adrien Hyppolite, Spiko’s co-founder and CEO, and Antoine Michon, co-founder and general director, the company is building financial infrastructure that allows businesses and individuals to earn returns on cash without giving up everyday access to their funds. Hyppolite previously worked on financial-market regulation at the French Treasury, while Michon advised the French government on digital transformation after working on deployments at Palantir.

Spiko started with tokenised money-market funds. Its products are available in euros, US dollars, pounds sterling and Swiss francs, giving customers access through its web and mobile applications. Financial institutions and other platforms can also integrate Spiko’s funds through an API, opening the door for cash-management products to be built directly into third-party services.

The company’s blockchain-based infrastructure adds another layer to its offering. Because the fund units operate on programmable rails, businesses can establish automated treasury rules around their cash. For example, a company could keep enough liquidity available for upcoming obligations while automatically allocating surplus funds toward yield-generating products. These processes can also be controlled through APIs, treasury-management systems and AI agents.

Spiko has scaled rapidly since launching its first products. The company now manages more than €2.4 billion in assets, representing more than five times growth over the previous 12 months, and serves over 10,000 businesses and individuals across more than 25 jurisdictions. Its customer base includes startups, small businesses, venture funds, research organisations, public institutions and medical practices.

The startup is targeting a large pool of capital that it believes remains poorly served. Spiko estimates that businesses and individuals in Europe and the US collectively hold around €44 trillion in cash and deposits, much of which generates limited returns. Its broader ambition is to make earning a return on everyday cash a standard financial capability rather than something reserved for larger institutions.

The new financing will support the launch of additional funds, entry into new markets and further hiring. From its existing bases in Paris and London, Spiko is also building local teams across Germany, Italy, Spain, the Netherlands and the Nordic countries as it expands its cash-management infrastructure across Europe.