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Spiko Secures $90 Million to Compete with BlackRock in Tokenized Cash Funds
Spiko, a fintech startup based in Paris, has successfully raised $90 million in a Series B funding round, aiming to challenge established players like BlackRock in the cash fund sector. The funding, announced on October 6, 2026, was led by New Enterprise Associates (NEA) and included participation from existing investors Index Ventures and White Star Capital, as well as new backers such as Axel Weber, the former president of the Bundesbank.
Since its founding in 2023, Spiko has attracted approximately $120 million in total funding. The company reported a significant increase in assets under management (AUM), reaching between $2.6 billion and $2.7 billion as of late September 2026. This rapid growth saw Spiko surpass the $1 billion mark in February 2026 and double its AUM to $2 billion by July 2026, positioning it as a leading issuer of tokenized funds in Europe and a notable player globally.
Spiko specializes in tokenized money market funds, which primarily invest in Eurozone and US Treasury bills. The innovative structure allows for daily interest accrual and quick on-chain transfers of fund shares. The company operates under the oversight of France's financial markets regulator, the AMF, and its funds comply with the EU's UCITS regulations, making them accessible to retail investors. Additionally, a recent partnership with Fipto enables seamless transfers from stablecoin balances into Spiko's funds, enhancing its appeal to businesses seeking efficient cash management solutions.
Source: KLEA News