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Spiko raises a $90M Series B led by NEA for its tokenised cash funds

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Spiko, a Paris and London company that issues tokenised cash funds, has taken its total funding to $120 million, it said in a statement on Tuesday. New Enterprise Associates (NEA) led the $90 million Series B.

Index Ventures, Bpifrance, Speedinvest, Flourish Ventures, Shapers and White Star Capital took part. So did Blockwall, Frst, EQNX, Mirana Ventures and Wintermute Ventures. Angel investors included Axel Weber, a former president of the Bundesbank, and the founders of Qonto.

“Every person and every organization holds cash, yet whether it earns anything still depends on who you are and how much you have,” said Paul-Adrien Hyppolite, Spiko’s co-founder and chief executive. “Yield should be universal.”

What Spiko sells

Spiko designs its own regulated cash funds, from products with intraday liquidity to fixed-term ones. Businesses use them through a desktop and mobile app. Other companies and financial platforms can build them into their own products through...

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