Spiko Secures $90 Million to Expand Tokenized Cash Funds Across Europe

Summary

• Spiko raised $90 million in NEA-led financing to launch additional tokenized cash funds and expand operations across multiple European markets.
• Spiko manages $2.7 billion across four currency offerings, serving more than 10,000 businesses and individuals in over 25 separate jurisdictions.
• Its blockchain-based funds support automated cash management, while Spiko claims its tokenized fund range exceeds BlackRock’s and Franklin Templeton’s offerings.

Spiko has secured $90 million to launch additional tokenized cash funds and expand its operations across European markets. According to Tuesday’s announcement, New Enterprise Associates led the Series B round, bringing the company’s total funding to $120 million.

Index Ventures, Bpifrance, Speedinvest, and Wintermute Ventures joined the financing, alongside individual investors including former Bundesbank president Axel Weber. The London- and Paris-based company will use the investment to enter additional markets, introduce new funds, and expand its team.

Its European expansion plans include local operations across Germany, Italy, Spain, the Netherlands, and the Nordics. These locations form part of a broader recruitment programme supporting Spiko’s plans to expand its fund business into additional markets.

Spiko designs and distributes its own regulated cash funds, giving businesses and individuals access through web and mobile applications. Financial companies can also embed the funds into their products through Spiko’s API, extending distribution beyond its direct customer platforms.

The company therefore offers two access routes, serving customers through its applications and supporting integrations within other financial products. Its planned fund launches will expand that offering, while additional staff will support operations across the markets.

Also Read: NEAR Faces $5 Support Test as Triple-Top Risk Builds Below $5.60

Spiko Reports $2.7 Billion in Assets and Claims Lead Over Major Tokenized Fund Issuers

Alongside the funding announcement, Spiko reported $2.7 billion in assets under management across funds denominated in four major currencies. Its product range covers euros, dollars, sterling, and Swiss francs, with more than 10,000 businesses and individuals using the funds.

Those customers span more than 25 jurisdictions, according to the company’s figures, reflecting the existing reach of its fund offering. Spiko issues its funds as tokens across multiple public blockchains, using infrastructure that also supports stablecoins and smart contracts.

According to the statement, this structure allows businesses to programme rules for moving excess operating cash into the funds. Companies can use those rules while keeping money available for payroll and other payments, the firm explained in its announcement.

This functionality forms part of Spiko’s cash management offering, alongside direct fund access and integrations available to financial companies. Spiko also claimed its tokenized cash-fund range exceeds those of BlackRock and Franklin Templeton, citing data from RWA.xyz.

The comparison applies specifically to tokenized cash funds and does not represent a ranking of the firms’ overall managed assets. Its reported asset total covers the funds denominated in euros, dollars, sterling, and Swiss francs described in the announcement. Spiko will direct the Series B proceeds toward new products, additional markets, and recruitment as it expands its European operations.

Also Read: Tom Lee Backs Small-Cap Stocks as Crowded Bearish Bets Signal Potential Crypto Rotation