TL;DR
- Spiko has raised $22 million in Series A funding led by Index Ventures to expand its tokenized money market funds across Europe.
- With $25 trillion in idle European deposits, the startup seeks to close the cash yield gap with the U.S. by letting businesses earn daily interest.
- Backed by high-profile angel investors, Spiko plans to reach $1 billion in assets under management by year-end.
Spiko, a rising European fintech, has locked in $22 million to scale its blockchain-based money market fund offering. By tapping into tokenization, the firm wants to help European businesses unlock returns on cash that too often sits stagnant in traditional bank accounts. The Series A round, led by Index Ventures and supported by White Star Capital, Frst, Rerail, Bpifrance, and Blockwall, brings fresh fuel to Spiko’s growth plans.
Europe holds an estimated $25 trillion in bank deposits that generally fail to generate meaningful returns. Meanwhile, U.S. companies frequently put idle cash to work, benefiting from higher yields without losing liquidity. This imbalance has inspired Spiko’s mission to bridge the yield gap and modernize treasury management for European firms that want returns without extra risk or restrictive lock-ups.
Blockchain Infrastructure Enables Real-Time Liquidity
Spiko’s unique approach uses Ethereum, Arbitrum, and Polygon blockchains to tokenize money market funds, making them available to companies of all sizes. Acting as a blockchain-native transfer agent, the platform bypasses old-school custodians and expensive intermediaries. By doing so, Spiko cuts costs and allows 24/7 movement of funds, including stablecoin transfers that can replace wire payments for faster settlement.
Its underlying investments target highly liquid, government-backed assets like Eurozone and U.S. Treasury bills. This strategy ensures low-risk exposure while linking returns directly to central bank rates. For European businesses long resigned to near-zero yields, Spiko’s model promises a practical path to daily returns without tying up cash for months at a time.
Ambitious Expansion Plans Across Europe And Beyond
Founded by ex-French Treasury officials Paul-Adrien Hyppolite and Antoine Michon, Spiko processed over $900 million for 1,000 businesses during its first year. The fresh funding will strengthen partnerships with players like Memo Bank and Fygr and expand sales, marketing, and product development teams.
While the immediate focus remains on Europe, Spiko’s eyes are on a future U.S. push, aiming to attract companies eager for seamless, blockchain-powered liquidity solutions. Investors like Revolut’s Nikolay Storonsky and Wise’s Harsh Sinha back Spiko’s belief that blockchain can reshape how businesses handle cash — and finally help Europe close its $25 trillion yield gap.
