Spiko raises $90M to automate treasury cash with tokenized funds

Spiko announced a $90 million Series B led by New Enterprise Associates for a treasury platform that puts business cash into regulated, tokenized funds. Finance teams can use its web and mobile apps directly, while fintechs and other companies can embed the funds in their own products through an API. Spiko says its users range from startups and medical practices to research institutes, public bodies and venture firms.

Spiko’s rules divide a company’s balance by when it will be needed. Money reserved for payroll and suppliers stays in the operating account; near-term surplus can move into a liquid fund, while longer-dated cash can go into a fixed-term product. A treasury-management system can change the allocation through the API.

Spiko records fund shares on blockchains, allowing the products to use the same infrastructure as stablecoins and smart contracts. The point isn’t a tradable token for its own sake; it’s cash management that software can trigger without a person shuffling money between accounts. That distinction also exposes the unfinished part of the product: Spiko offers instant withdrawals now, but says continuously accrued yield is still coming.

The company says more than 10,000 businesses and individuals in over 25 jurisdictions use its funds. Its range spans sub-daily-liquidity and fixed-term products denominated in euros, US dollars, sterling and Swiss francs. Direct access and embedded distribution put Spiko on both sides of the workflow: as a destination for treasury teams and as infrastructure inside financial platforms.

Index Ventures, Bpifrance, Speedinvest, Flourish Ventures, White Star Capital and several other investors joined the round. Spiko plans to use the capital to launch additional funds, enter more markets and hire local teams across Europe. It operates from London and Paris and is building teams in Germany, Italy, Spain, the Netherlands and the Nordic region.