Spiko, a Paris-based company that runs regulated money market funds recorded on public blockchains, raised $90m in a Series B round led by New Enterprise Associates (NEA), it said on 6 October 2026. The French outlet Ascendants gave the figure as about €80m.
Index Ventures, Bpifrance, Speedinvest, Flourish Ventures, Shapers, White Star Capital, Blockwall, Frst, EQNX, Mirana Ventures and Wintermute Ventures also took part. Angel investors included Axel Weber, a former president of Germany's Bundesbank, and the founders of the French business-banking company Qonto.
The round brings Spiko's total funding to $120m, according to the company. Spiko did not disclose a valuation.
“Our ambition is to make all cash earn by default, around the clock.”Paul-Adrien Hyppolite, Co-founder and CEO, Spiko
What Spiko does
Spiko was founded in 2023 by Paul-Adrien Hyppolite, its chief executive, and Antoine Michon, according to Ascendants. It sells what it calls Smart Cash funds in euros, US dollars, pounds sterling and Swiss francs. The funds invest in short-term government debt such as Treasury bills, and their shares are issued and recorded onchain.
Companies reach the funds through Spiko's web and mobile apps, while other platforms can build them into their own products through an API. The range also includes government money market funds for regulated uses such as keeping client money separate, a T-bills product and a higher-yield arbitrage strategy that carries some volatility.
Spiko said it has $2.7bn placed in its funds, more than five times the level of a year earlier, and serves more than 10,000 businesses and individuals in over 25 countries. Cryptoast reported that the company's assets were just over $400m in January, when it received a management company licence from French regulators AMF and ACPR. Spiko also said, citing the data site RWA.xyz, that it now offers the largest range of tokenised Treasury funds, ahead of BlackRock and Franklin Templeton.
What the money is for
Spiko said the new capital will go into new products, new markets and a larger team. It plans to open local teams in Germany, the Nordics, Italy, Spain and the Netherlands. The company already operates in Europe and the US and has staff in Paris and London.
Among the products it plans to add are real-time interest calculation and fixed-term funds, with fund shares also recorded on a blockchain.
"Our ambition is to make all cash earn by default, around the clock," Hyppolite said in the announcement. Philip Chopin, managing director and head of Europe at NEA, said the founders were "building the default home for cash".
The funding so far
The Series B comes about 15 months after Spiko raised a €18.9m (about $22m) Series A in July 2025, according to Ascendants. Ascendants named Index Ventures, Speedinvest and White Star Capital among the investors returning for the Series B.
Spiko aims its funds at the large pool of cash that businesses hold in bank accounts. In its announcement it put the cash and deposits held across Europe and the US at about $50 trillion, with policy rates of 2.5% in the euro area and close to 4% in the US.
Who Spiko serves
Cryptoast reported that Spiko's clients include start-ups, research institutes, public bodies and medical practices. The company said each percentage point of yield on the cash held across Europe and the US is worth about $500bn a year, which is the gap it is trying to capture for clients whose money sits in current accounts.
The Spiko figures for assets and client numbers are the company's own and were not independently verified in the coverage of the round.
Company website: spiko.io