Paris-based fintech Spiko, which builds tokenized money market funds, has raised $90 million in a Series B funding round led by New Enterprise Associates (NEA). The round also included participation from Index Ventures, White Star Capital, and Axel Weber, the former president of the Bundesbank. With this raise, Spiko’s total funding since its 2023 founding reaches approximately $120 million. The company now manages $2.6 to $2.7 billion in assets under management, making it the leading tokenized fund issuer in Europe. Spiko plans to use the capital to expand across Europe and the United States and develop new products in tokenized cash and yield, positioning itself to compete directly with BlackRock in the cash fund business.
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