Spiko Raises $90M Series B for Cash Yield Innovation

Spiko, a fintech innovator focused on making cash work harder, has successfully closed a $90 million Series B funding round. The significant capital infusion was spearheaded by prominent venture capital firm New Enterprise Associates (NEA), underscoring strong investor confidence in Spiko's mission to democratize yield generation on idle cash reserves. This latest funding brings the company's total raised capital to $120 million, positioning it for aggressive expansion and product development.

The round saw robust participation from other leading investors, including Index Ventures, Speedinvest, and White Star Capital. The backing also featured support from notable angel investors, such as the founders of Qonto and Axel Weber, former president of the Bundesbank, signaling broad industry acknowledgment of Spiko's disruptive potential. Spiko aims to unlock the vast potential of the estimated $50 trillion in cash and deposits held across Europe and the United States, much of which currently yields minimal or no return.

Founded on the principle that yield should be universally accessible, Spiko is developing a platform that transforms cash into a programmable asset. The company's core offering involves creating a suite of regulated cash funds, ranging from ultra-liquid options suitable for daily operational needs to fixed-term products for longer-term cash management. These solutions are designed to bridge the gap for small to medium-sized businesses, non-profits, and financial institutions that often lack direct access to the sophisticated wholesale financial markets utilized by larger entities.

“Our ambition is to make all cash earn by default, around the clock,” stated Paul-Adrien Hyppolite, co-founder and CEO of Spiko. “Every person and every organization holds cash, yet whether it earns anything still depends on who you are and how much you have. Yield should be universal.” Spiko's platform allows clients to manage these funds through intuitive desktop and mobile applications, while also offering API integrations for seamless embedding into third-party services and treasury management systems.

Spiko's innovative approach leverages on-chain infrastructure, enabling its tokenized cash funds to operate natively within the digital asset ecosystem, akin to stablecoins and smart contracts. This technological foundation facilitates automated treasury management, allowing companies to implement automated rules for cash allocation, such as maintaining sufficient operating balances while directing excess funds into yield-generating products. The company asserts its position as the world's largest issuer of tokenized cash funds, surpassing established players like BlackRock and Franklin Templeton in this specific niche.

The newly acquired capital will fuel Spiko's strategic growth initiatives, including the launch of new fund products, entry into additional international markets, and the expansion of its European team. With existing operational hubs in Paris and London, Spiko is actively building out its presence in key European economies such as Germany, Italy, Spain, the Netherlands, and the Nordic region. This expansion is critical as the company addresses the growing demand for continuous, software-driven cash movement, moving beyond the limitations of traditional market hours.