French fintech startup Spiko, based in Paris, has successfully raised $22 million in a Series A funding round, marking a significant milestone in its mission to transform the European cash management landscape. The funding, led by Index Ventures, aims to bridge the cash yield gap between Europe and the U.S. by democratizing access to money market yields through innovative tokenization technology.
Spiko, backed by notable figures such as Revolut’s co-founder and Wise’s CTO, focuses on enabling small and medium-sized businesses (SMBs) to earn returns on idle cash. Within just 12 months of operation, the company has already achieved $400 million in assets under management (AUM), showcasing strong market traction and demand for its services.
The platform leverages tokenized infrastructure to provide seamless access to treasury yields, a financial tool often out of reach for smaller enterprises in Europe. Spiko’s innovative approach positions it as a game-changer, with projections to reach $1 billion in AUM by the end of the year.
This funding round will fuel Spiko’s expansion and product development, allowing the company to scale its operations and further enhance its offerings. The fintech aims to close the disparity in cash optimization opportunities between European and U.S. businesses, ensuring SMBs can maximize their financial resources.
Industry experts see Spiko’s rise as a sign of growing interest in fintech solutions that empower businesses with accessible financial tools. The company’s success in attracting significant investment highlights the potential for tokenized money market funds to reshape traditional cash management practices in Europe.
As Spiko continues to innovate, it is poised to become a key player in the fintech sector, offering a glimpse into the future of financial management for businesses across the continent. With this latest funding, the company is well-equipped to drive change and deliver value to its growing client base.
Andrew Lee
