Spiko raises $90 million Series B led by NEA to expand tokenized money market funds
In brief
- New Enterprise Associates (NEA) led Spiko's $90 million Series B, per Crypto Briefing.
- Total funding since Spiko's 2023 founding is about $120 million, the company says.
- Spiko's assets under management stood at $2.6–2.7 billion in late September 2026, per the company.
- Fipto partnership lets investors move EURC and USDC balances into Spiko's funds.
Who's backing the round
Existing backers Index Ventures and White Star Capital returned, Crypto Briefing reported, and new investors include Axel Weber (the former president of the Bundesbank). Spiko says this round brings its total funding since its 2023 founding to roughly $120 million. That's a big step up. Its Series A in July 2025 was a $22 million raise led by Index Ventures, with angel investors including Revolut's Nikolay Storonsky.
The company has also said it plans to compete more directly with BlackRock in the cash fund business. That's Spiko's own positioning, and it's the headline ambition behind the raise.
How the funds work
Spiko takes money market funds and puts the fund shares on public blockchains, including Stellar and Ethereum. The funds mainly hold Eurozone and US Treasury bills, and they're backed by sovereign T-bills or collateralized swaps. Interest accrues daily. Holders can also move fund shares on-chain quickly.
The firm operates under the oversight of France's AMF, and its funds are UCITS-compliant. Spiko pitches the product as a treasury tool for businesses and SMEs, and it's targeting what it describes as a cash yield gap between Europe and the US.
AUM growth and the stablecoin link
Spiko held $2.6–2.7 billion in assets under management as of late September 2026, according to company figures reported by Crypto Briefing. By the same account, AUM crossed $1 billion in February 2026 and hit $2 billion in July (roughly a billion dollars added in about five months). Crypto Briefing described Spiko as the leading tokenized fund issuer in Europe.
Those growth numbers come from Spiko itself.
The clearest crypto angle arrived this month, when Spiko announced a partnership with Fipto. The deal lets investors move money straight from EURC and USDC stablecoin balances into Spiko's funds, through platforms such as Coinhouse. For stablecoin holders, that means a EURC or USDC balance can go straight into a Treasury-backed fund where interest accrues daily.
Frequently asked questions
How do Spiko's tokenized money market funds work?
Spiko puts money market fund shares on public blockchains such as Stellar and Ethereum. The funds mainly hold Eurozone and US Treasury bills, backed by sovereign T-bills or collateralized swaps. Interest accrues daily and holders can move shares on-chain quickly.
Who led Spiko's $90 million Series B?
New Enterprise Associates (NEA) led the round, according to Crypto Briefing. Index Ventures and White Star Capital returned, and new investors included former Bundesbank president Axel Weber. Spiko says total funding since 2023 is about $120 million.
What does the Spiko and Fipto partnership do?
Announced in October 2026, the Fipto deal lets investors move money from EURC and USDC stablecoin balances directly into Spiko's funds, through platforms such as Coinhouse.
