Spiko Raises $90 Million to Expand Tokenized Cash Funds Globally
Spiko, a company specializing in tokenized cash funds, has secured $90 million in Series B funding. The round was led by New Enterprise Associates, with additional participation from Index Ventures, Bpifrance, Speedinvest, and Wintermute Ventures. Notable angel investors, including former Bundesbank president Axel Weber, also contributed to the funding. This brings Spiko's total funding to $120 million.
The company plans to use the new capital to launch additional funds, expand into new markets, and grow its team. Spiko will establish local operations in Germany, Italy, Spain, the Netherlands, and the Nordics. The funds are tokenized and operate on multiple public blockchains, allowing them to function alongside stablecoins and smart contracts.
Spiko's cash funds are accessible through its web and mobile applications, and financial companies can integrate them into their products via an API. The funds are designed to be programmable, enabling companies to manage excess operating cash while keeping funds available for essential payments. Spiko currently manages $2.7 billion in assets across funds denominated in euros, dollars, sterling, and Swiss francs, serving over 10,000 businesses and individuals in more than 25 jurisdictions.
The company claims its tokenized cash-fund range is now larger than those offered by BlackRock and Franklin Templeton, based on data from RWA.xyz. This comparison specifically addresses tokenized cash funds, not the firms' overall assets under management.