Spiko, a fintech transforming the European cash management landscape, has announced a $22 million Series A funding round. The round was led by Index Ventures, with participation from White Star Capital, Frst, Rerail, Blockwall, and Bpifrance’s Digital Venture Fund. Additional support came from prominent angel investors, including Revolut co-founder Nikolay Storonsky, Kyriba founder Jean-Luc Robert, Bridge co-founder Zach Abrams, Wise CTO Harsh Sinha, Blackstone co-CIO Lionel Assant, and the founding team of Pennylane.
An estimated $25 trillion currently sits idle in European bank deposits, missing out on yields, capital efficiency, and protection. In contrast, U.S. businesses typically earn interest on idle cash without sacrificing liquidity, thanks to a more mature liquidity management infrastructure. Growing interest in cash optimization among European businesses signals a shift. Spiko addresses this demand, witnessing strong early traction driven by tokenized infrastructure and an API-first platform.
According to co-founder Paul-Adrien Hyppolite, “In Europe, there’s a mistaken belief that your money won’t earn interest unless you lock it away or take on risk. But as long as central bank rates are above zero, sitting on idle cash means European businesses are missing out on returns that US competitors routinely receive. With Spiko, we’re changing the game by making it easy for anyone to put their cash to work.”
Within just one year of launch, Spiko has grown to over $400 million in assets under management (AUM), with more than $900 million in processed working capital from 1,000+ businesses — achieved entirely through organic growth and without a dedicated sales team. A projected AUM of over $1 billion by year-end underscores strong market demand. Recent partnerships with fintech platforms Fygr and Memo Bank will further extend distribution. Spiko’s lean team of nine, led by co-founders Paul-Adrien Hyppolite (formerly at the French Treasury) and Antoine Michon (ex-technology advisor to the French Minister of Public Sector Transformation), bring deep institutional experience.
Julia Andre, partner at Index Ventures, commented: “Spiko is going after a vast opportunity in treasury management and leveraging their tokenized fund infrastructure to unlock new pools of liquidity through innovative distribution. Their initial product resonates strongly with customers in Europe, and we’re excited about their vision to tap into huge distribution channels with an expansive product offering over time."
Tokenization stands at the core of Spiko’s innovation. By acting as a transfer agent on a blockchain ledger, Spiko eliminates intermediaries and reduces the cost and complexity of fund management — opening 24/7 global access to cash-equivalent transfers. The primary assets in Spiko’s money market funds are Treasury Bills issued by Eurozone governments and the U.S. Treasury, regarded as among the safest and most liquid instruments. Spiko’s tokenized architecture — a European first for money market funds — also allows transactions via stablecoins, bridging traditional finance with digital assets. With this new funding, Spiko will scale operations, expand partnerships, and accelerate product and market development across Europe.