Spiko Raises $90 Mn Series B to Expand Tokenised Cash Funds

The funding round also included Index Ventures, Speedinvest, and White Star Capital. Several angel investors participated as well, including the founders of Qonto and Axel Weber, former president of the Bundesbank.

"Every person and every organisation holds cash, yet whether it earns anything still depends on who you are and how much you have. Yield should be universal. Our ambition is to make all cash earn by default, around the clock, "said Paul-Adrien Hyppolite, co-founder and CEO of Spiko.

Spiko develops its own range of regulated cash funds. These include products that offer access to money several times a day as well as options with fixed terms.

Businesses can access Spiko’s products through its desktop and mobile apps. Companies and financial platforms can also add Spiko’s products to their own services using an API.

Spiko serves a wide range of customers, including startups, scaleups, research organisations, public institutions, venture capital funds, and medical practices.

Its products are available in several major currencies, including the euro, US dollar, British pound, and Swiss franc, giving businesses more options for managing their cash.

Spiko is also building its products around the idea that cash should be able to move continuously through software, rather than being limited by traditional banking, market, payment, and accounting hours. Its funds currently support instant withdrawals, and the company plans to introduce returns that build up continuously.

The company issues its funds onchain, allowing them to use the same type of infrastructure as stablecoins and smart contracts. Spiko says this approach has made it the world’s largest issuer of tokenised cash funds, ahead of BlackRock and Franklin Templeton.

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