Spiko Raises $90M Series B Led by NEA to Make Yield Universal
Spiko, the tokenized cash fund leader, led by Paul-Adrien Hyppolite and Antoine Michon, has announced a $90 million Series B led by New Enterprise Associates (NEA), with participation from investors including Index Ventures, Bpifrance, Speedinvest, Flourish Ventures, Shapers, White Star Capital, Blockwall, Frst, EQNX, Mirana Ventures, and Wintermute Ventures. Prominent angels also joined, including Axel Weber, former president of the Bundesbank, and the founders of Qonto. The round brings Spiko’s total funding to $120 million.
Making Yield More Accessible.
Europe and the United States hold roughly $50 trillion in cash and deposits, much of it earning little or no yield. At current central bank rates, every 1% of additional yield on that capital represents roughly $500 billion annually.
Banks and large institutions capture much of this value through wholesale financial markets, while entrepreneurs, small businesses, nonprofits, and smaller financial institutions often leave their cash idle by default. Spiko was founded to close this gap and make access to yield more broadly available.
“Every person and every organization holds cash, yet whether it earns anything still depends on who you are and how much you have,” said Paul-Adrien Hyppolite, co-founder and CEO of Spiko. “Yield should be universal. Our ambition is to make all cash earn by default, around the clock.”
Making Cash Work for Everyone.
Money market funds have long offered an efficient way to earn returns on cash, but remain underused outside the United States. Spiko aims to bridge that gap through a range of regulated cash funds, from intraday liquidity to term products.
The funds are accessible through desktop and mobile apps, with APIs enabling businesses and financial platforms to embed them directly into their products. Customers include startups, research institutes, public institutions, VC funds, and medical practices, with products available in euros, dollars, sterling, and Swiss francs.
Keeping Cash Earning 24/7.
Making yield accessible is only part of the challenge. Traditional money market funds were built around financial and payment systems operating during business hours, not a world of continuous, software-driven transactions and AI agents.
Businesses, fintechs, and stablecoin issuers often need liquidity around the clock, yet cash can remain idle when suitable products are unavailable. Spiko is building for this environment, offering instant withdrawals today and moving toward yield that accrues continuously, 24 hours a day, 7 days a week.
“We looked at dozens of companies solving pieces of this problem. We believe Spiko is the only one that’s solved the regulatory piece and the product piece at the same time,” said Philip Chopin, Managing Director, Head of Europe, at NEA. “Paul-Adrien and Antoine are building the default home for cash. Money market funds are where trust is earned, and the same model extends naturally to new markets and new products.”
Putting Treasury on Autopilot.
Spiko issues its funds onchain and has become a leading issuer of tokenized cash funds. Onchain funds operate on the same rails as stablecoins and smart contracts, making cash programmable.
This enables automated treasury management: operating cash can remain readily available, excess cash can be swept into yield-generating funds, and longer-term cash can be placed in fixed-term products. Spiko executes these rules continuously, while treasury management systems or AI agents can adjust them through the API.
By the Numbers.
$2.7B in assets under management across regulated cash funds in four currencies and multiple public blockchains.
5x+ AUM growth over the past 12 months.
10,000+ businesses and individuals across more than 25 jurisdictions using Spiko.
$120M raised to date, including a $90M Series B.
Spiko operates from London and Paris, with teams expanding across Germany, Italy, Spain, the Netherlands, and the Nordics. The latest funding will support new fund launches, market expansion, and team growth.
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