London- and Paris-based tokenized cash startup Spiko raised a $90M Series B at an $800M valuation, taking its total funding to $120M, and hits ~$2.7B in AUM (Ryan Weeks/Bloomberg)
A European startup building tokenized cash funds has raised $90 million in equity funding, as it seeks to take on sector heavyweights including BlackRock Inc.
New Enterprise Associates (NEA) has led Spiko’s $90 million Series B funding round, expanding the tokenised cash funds provider’s total capital to $120 million. Spiko aims to broaden access to yield on cash, addressing the issue that many smaller businesses, entrepreneurs, nonprofits, and financial institutions have limited access to yield-generating opportunities.
The company’s platform allows users to access regulated cash funds with varying liquidity options, and it currently operates in Europe and the United States, serving a diverse range of clients. With the new funding, Spiko plans to launch additional funds, enter new markets, and expand its team across Europe.
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