Big news: Spiko has raised a $90 million Series B, led by New Enterprise Associates (NEA). Just over two years after we launched our first funds, it's a major milestone for the whole team.
It's also a good moment to share why we started Spiko, what we've built since, and what's coming next.
Across Europe and the US, businesses and individuals hold some $50 trillion in cash and deposits. Most of it earns next to nothing, even though policy rates stand at 2.5% in the euro area and close to 4% in the US.
On a sum that size, every percentage point of yield is worth $500 billion a year. Today, that yield goes to a handful of players, starting with banks and large financial institutions. We started Spiko to bring it to everyone else.
“Every person and every organization holds cash, yet whether it earns anything still depends on who you are and how much you have. Our ambition is to make all cash earn by default, around the clock.”
Paul-Adrien Hyppolite, co-founder and CEO of Spiko
We started with money market funds. In the US, they've been a staple for treasurers for decades. In Europe, they're still largely under the radar. Our goal was to make them simple and accessible to everyone.
You can access Spiko’s cash funds through our web and mobile app, and any company or financial platform can embed them into its own offering via our API. They're available in euros, dollars, pounds sterling, and Swiss francs. Here's where we stand today:
Our clients range from startups to medical practices, with scale-ups, research institutes, public institutions, and VC funds in between. Thank you all for your trust.
Making yield accessible was only the first step. The next challenge is making cash earn at every hour of the day and night. Traditional money market funds run on business days, in step with the payment systems and accounting tools they were built for. Yet money now moves around the clock, driven by software and, soon, by AI agents.
Our funds are built for that world: instant withdrawals today and, soon, interest calculated in real time.
Spiko fund shares are recorded on the blockchain, an open infrastructure that runs 24/7, the same one stablecoins run on. The result: your cash becomes programmable. Your finance team sets its rules once, for example:
The platform applies these rules continuously, and you can adjust them via our API, from your treasury management system (TMS) or through an AI agent.
The round is led by NEA, a venture capital firm with more than $38 billion in assets under management, with participation from 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. That brings our total funding to $120 million.
“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.”
Philip Chopin, Managing Director and Head of Europe at NEA
This funding will go into three areas: launching new products, entering new markets, and growing the team. Already based in London and Paris, we're building local teams across Europe, from Germany to the Nordics, via Italy, Spain, and the Netherlands. And yes, we're hiring!
Thank you to our clients, partners, investors, and the entire Spiko team. The best is yet to come.
Read the full press release: here
To better understand the world of cash management, explore our blog!
