French Fintech Spiko Secures $22M to Expand Cash Management Platform

• Paris- and London-based fintech Spiko has secured $22M in Series A funding led by Index Ventures to expand its blockchain-powered treasury platform.
• European fintech Spiko has crossed $400M in assets under management and aims to surpass $1B by year-end, offering daily returns on idle cash.

Spiko, a fintech company based in Paris and London that wants to transform treasury management in Europe, has raised $22 million in a Series A fundraising round headed by Index Ventures.

Revolut co-founder Nikolay Storonsky, Kyriba founder Jean-Luc Robert, Wise CTO Harsh Sinha, and prominent angel investors White Star Capital, Frst, Rerail, Blockwall, and Bpifrance's Digital Venture Fund also contributed to the round.

Established in 2023 by Antoine Michon and Paul-Adrien Hyppolite, Spiko combines blockchain technology and tokenised money market funds to enable European companies to make the most of idle cash with daily returns, free from the liquidity restrictions usually caused by conventional financial products.

Through access to government-issued securities and service as an electronic transfer agent, Spiko facilitates 24/7 secure transfers and eliminates expensive financial middlemen—avenues previously not available to anyone except the biggest corporations.

Spiko has gathered over $400 million in assets under management within its first year of operations, clearing over $900 million from over 1,000 companies.

Its mission is to close the cash yield gap between Europe and the United States, where the same liquidity management tools are prevalent and widely available.

With a management fee of approximately 0.25% per annum and effortless access to institutional-quality financial instruments that have hitherto been reserved for large corporations or sophisticated investors, its platform is attracting European SMEs.

The newly raised capital will be utilised to grow Spiko's product and sales forces, fuel its go-to-market efforts, and enhance strategic partnerships, including those already disclosed with French fintechs Memo Bank and Fygr.

At the end of the year, Spiko anticipates having assets under management of more than $1 billion, which shows continued improvement and a shift in European cash management.