Spiko Secures $90M Series B to Revolutionize Tokenized Treasury Management

Spiko has secured $90 million in Series B funding to scale its tokenized treasury management platform. Led by New Enterprise Associates, the round highlights a growing shift toward blockchain-based money market funds, offering businesses and individuals a way to capture yields on idle cash that have traditionally remained the privilege of major financial institutions.

What was announced

Spiko’s $90 million Series B round, which brings its total funding to $120 million, was led by New Enterprise Associates (NEA) with participation from a broad syndicate including Index Ventures, Bpifrance, Speedinvest, and White Star Capital. The funding follows a period of rapid growth for the firm, which now manages €2.4 billion in assets—a fivefold increase over the past 12 months. Serving more than 10,000 clients across 25 countries, the platform provides access to money market funds denominated in Euros, Dollars, British Pounds, and Swiss Francs.

The platform utilizes blockchain infrastructure to enable programmable treasury management via a web application, mobile interface, and a dedicated API for financial platforms. This allows finance teams to automate liquidity movements by setting rules for payroll withdrawals or shifting excess cash into higher-yield term funds. According to data from RWA.xyz, Spiko now maintains the world’s largest range of tokenized funds for treasury placement, outstripping the offerings of traditional giants like BlackRock and Franklin Templeton. The new capital is earmarked for the launch of new products and a push into new European markets including Germany, Italy, Spain, and the Nordics. To support this growth, the company is expanding its teams in London and Paris. The round also saw backing from notable figures such as Axel Weber, former president of the Bundesbank, and the founders of the business finance platform Qonto.

"Chaque entreprise, chaque particulier détient de la trésorerie. Sa rémunération doit aller de soi. Notre ambition : qu'elle soit rémunérée par défaut, à chaque instant."

Paul-Adrien Hyppolite, co-founder and CEO of Spiko.

The companies involved

Spiko is a fintech firm focused on democratizing access to institutional-grade yields through tokenized money market funds. Based in Paris and London, the company has positioned itself at the intersection of traditional finance and decentralized infrastructure since its launch just over two years ago. New Enterprise Associates (NEA), the lead investor, is a global venture capital firm with a significant European presence under the leadership of Philip Chopin, Managing Director and Head of Europe.

The funding round also includes Bpifrance, the French national investment bank, and Speedinvest, a prominent European early-stage investor. Other participants include Flourish Ventures, Shapers, Blockwall, Frst, EQNX, Mirana Ventures, and Wintermute Ventures. The involvement of the founders of Qonto, a leading European business finance solution, underscores Spiko's relevance to the SME and corporate treasury sector. Qonto itself has become a major player in the European neobanking space, recently expanding its footprint with a massive new headquarters in Paris. White Star Capital and Index Ventures also bring deep experience in scaling fintech platforms across multiple jurisdictions, having backed several of the industry's most prominent unicorns.

What FF News has reported before

While Spiko continues its expansion, its backers and partners have frequently appeared in our coverage. We recently reported on how Qonto Unveils Massive 11,000 sqm Paris HQ to Fuel European Banking Ambitions, signaling the scale of the French fintech ecosystem. Additionally, we covered the company's strategic moves in the SME sector as Qonto Hires PayPal Veteran Anja Urlichs to Lead European SME Upmarket Strategy. These developments reflect a broader trend of French fintechs maturing into pan-European leaders with significant physical and strategic footprints, often supported by the same pool of institutional investors like Bpifrance and Index Ventures.

What this means

This announcement signals that the "tokenization of everything" is moving past the experimental phase into a core component of corporate finance. By outperforming established giants like BlackRock in the RWA (Real World Asset) space, Spiko is proving that blockchain's primary value proposition in treasury is efficiency and programmability, not just speculation. Traditional banks are under increasing pressure as high-interest environments make "lazy" cash more expensive for clients to ignore. The entry of heavyweights like NEA and Axel Weber suggests that institutional confidence in tokenized money market funds is reaching a tipping point, potentially forcing traditional asset managers to accelerate their own digital asset strategies to remain competitive in the treasury market.