Spiko raises $90 million Series B to expand tokenized money-market funds across Europe
The NEA-led round brings Spiko's total funding to $120 million as the regulated cash-yield platform says it manages roughly $2.7 billion across its funds.
Spiko, a European platform offering regulated, tokenized money-market funds, announced October 6 that it had raised $90 million in a Series B round led by New Enterprise Associates. The company said the financing brings its total funding to $120 million.
Spiko provides tokenized representations of money-market fund interests intended to let businesses and individuals earn yield on idle cash while using blockchain-based settlement and transfer rails. The company says it currently manages approximately $2.7 billion in assets across its funds.
Spiko said it will use the new capital to launch additional products and expand across Europe, including building local teams in Germany, Italy, Spain, the Netherlands and the Nordic countries. The expansion plan puts the company in competition with both traditional cash-management providers and newer platforms using tokenized funds as an alternative settlement instrument.
Tokenization does not remove the underlying fund risks or change the legal rights attached to the investment. Investors still depend on the structure, custody, liquidity and regulatory terms of the specific fund, while the blockchain layer introduces its own operational and wallet-access considerations. Spiko did not disclose a post-money valuation with the funding announcement.