# Spiko Secures $90M Series B at $800M Valuation Led by NEA to Expand European Tokenized Treasury Funds

Source: TechNewsList (https://technewslist.com)
Canonical URL: https://technewslist.com/en/article/spiko-secures-90m-series-b-tokenized-treasury-2026-10-08-morning
Section: Fintech (https://technewslist.com/en/fintech)
Author: TechNewsList
Language: en
Published: 2026-10-08T05:28:12.607+00:00
Updated: 2026-10-08T05:28:12.796312+00:00

> European fintech Spiko closed a $90 million Series B investment led by New Enterprise Associates at an $800 million valuation, accelerating the deployment of its regulated UCITS-compliant tokenized cash and money market funds.

## TL;DR
- Spiko announced a $90 million Series B funding round on October 6, 2026, led by New Enterprise Associates.
- The financing values the Paris- and London-based financial technology company at $800 million.
- Spiko assets under management surged fivefold over twelve months to surpass $2.7 billion.
- The platform delivers regulated UCITS-compliant tokenized cash and money market funds across Europe.

## Key points
- Brings total institutional funding raised by Spiko to $120 million following earlier seed and Series A investments.
- Participation included Index Ventures, Bpifrance, Speedinvest, and former Deutsche Bundesbank President Axel Weber.
- Operates the Spiko Amundi Overnight Swap Fund backed by institutional depositary infrastructure from BNP Paribas.
- Funds geographical expansion into major European financial jurisdictions including Germany, Italy, Spain, and the Nordics.
- Establishes Spiko as the world largest issuer of tokenized cash funds by individual fund count, surpassing traditional asset managers.

## What happened

On October 6, 2026, financial technology company Spiko officially announced the completion of a $90 million Series B equity financing round. The investment was led by prominent global venture capital firm New Enterprise Associates (NEA), with substantial continued participation from existing institutional backers including Index Ventures, Bpifrance, Speedinvest, Flourish Ventures, and White Star Capital. The funding round also attracted prominent European financial figures, including former Deutsche Bundesbank President Axel Weber and the founding team of business banking platform Qonto.

The Series B injection elevates Spiko total capital raised to $120 million and establishes an implied post-money valuation of approximately $800 million. Headquartered across Paris and London, the fintech has emerged as a premier European infrastructure provider for tokenized real-world assets, specializing in regulated, yield-bearing cash and short-term sovereign debt instruments.

Alongside the funding announcement, Spiko disclosed that its platform assets under management (AUM) crossed $2.7 billion, representing an extraordinary fivefold expansion over the preceding twelve-month operating window. The platform currently services more than 10,000 corporate treasuries, wealth management institutions, and qualified individual investors across twenty-five international regulatory jurisdictions.

## Why it matters

Historically, institutional cash management has been tethered to legacy commercial banking rails characterized by rigid operating hours, counterparty credit exposure, and friction-laden cross-border settlement windows. In an environment defined by sustained interest rates, corporate financial directors have faced an uncomfortable dilemma: accepting low returns on uninvested operational balances or locking capital into illiquid term deposits that impede daily cash flow requirements.

![High-angle view across the Paris metropolitan banking center representing European corporate treasury infrastructure](https://rkhynbcsbnkkcwgexzwg.supabase.co/storage/v1/object/public/media/api/1791437286115-z6ywjj-spiko-secures-90m-series-b-tokenized-treasury-2026-10-08-morning-inside-1-a25295b354.webp "Tokenized money market funds allow corporate treasuries to hold regulated interest-bearing digital assets with daily liquidity.")

While non-yielding stablecoins emerged as a high-velocity medium for digital settlement, their lack of regulatory interest distribution has made them inefficient holding vehicles for formal corporate balance sheets. Corporate treasurers require legally compliant instruments that generate institutional market yield while maintaining instant transferability and sovereign credit safeguards.

Spiko platform resolves this structural friction by wrapping European Undertakings for Collective Investment in Transferable Securities (UCITS) compliant money market funds into tokenized blockchain representations. By pairing the stringent investor protections of European securities law with the programmatic settlement speed of distributed ledgers, Spiko provides enterprises with a high-yield alternative to traditional commercial bank deposits.

## Technical details

The technological and legal architecture of Spiko products centers on the tokenization of fully regulated, bankruptcy-remote investment funds. Its flagship product, the Spiko Amundi Overnight Swap Fund (SAFO), operates in partnership with Europe largest asset manager, Amundi, and utilizes tier-one depositary banking services from BNP Paribas.

Rather than holding direct commercial paper or uncollateralized corporate debt, the underlying fund invests exclusively in ultra-short-term government treasury bills and overnight reverse repurchase agreements backed by sovereign debt from G7 nations. Shares of the fund are mirrored on-chain through smart contracts deployed across Ethereum, Polygon, and Arbitrum, creating tokenized representations available in euro, US dollar, British pound, and Swiss franc denominations.

![Comparative architectural chart of major commercial structures in the Paris financial core](https://rkhynbcsbnkkcwgexzwg.supabase.co/storage/v1/object/public/media/api/1791437288227-0jl6lm-spiko-secures-90m-series-b-tokenized-treasury-2026-10-08-morning-inside-2-274a20aef3.webp "Digital cash protocols expand institutional market presence across major European financial capitals including Paris and Frankfurt.")

The tokens are engineered with continuous yield-accrual mechanics. Instead of requiring complex manual reinvestment cycles, the token net asset value (NAV) reflects daily overnight benchmark interest rates calculated by European central banking authorities. Smart contract hooks ensure that transferability is strictly restricted to verified whitelisted wallets that have completed comprehensive know-your-customer (KYC) and anti-money laundering (AML) verification.

Furthermore, Spiko architecture supports seamless integration into existing corporate enterprise resource planning (ERP) suites and treasury management systems. Through dedicated REST APIs and institutional custody bridges, corporate finance departments can automate cash sweeping workflows, transferring idle operating revenues into yield-bearing tokenized funds at the close of every business day.

## Market / industry impact

The rapid ascent of Spiko and its fresh $90 million capitalization mark a defining turning point in the institutional tokenization landscape. By reaching $2.7 billion in assets under management, Spiko has surpassed traditional Wall Street giants like BlackRock and Franklin Templeton in the specific metric of tokenized cash fund count and European commercial adoption.

For European fintechs and neo-banks, Spiko provides the backend plumbing required to embed interest-bearing treasury accounts directly into consumer and business applications. Rather than negotiating bespoke deposit-sharing agreements with regional commercial banks, developers can integrate Spiko tokenized funds as a standardized yield layer.

The development also intensifies competitive pressure on traditional commercial banking institutions. As corporate treasuries increasingly migrate working capital balances from non-interest-bearing checking accounts into tokenized sovereign debt, commercial banks face higher funding costs and deposit disintermediation, accelerating digital transformation across wholesale banking.

## What to watch next

Following the Series B close, corporate observers will track Spiko licensing trajectory across new European Union jurisdictions. Key operational targets include launching local sales and compliance operations across Germany, Italy, Spain, the Netherlands, and Scandinavia, leveraging the unified European Markets in Crypto-Assets (MiCA) regulatory passporting framework.

Another critical milestone will be the introduction of structured fixed-term and corporate bond products. Spiko leadership has indicated plans to expand beyond overnight sovereign money market funds into tokenized short-term commercial paper and green bond facilities, broadening the institutional asset menu.

Finally, industry analysts will watch for direct integrations with major payment networks and card issuing platforms. If Spiko successfully links its tokenized money market shares directly to corporate debit and settlement rails, businesses will gain the ability to spend directly from yield-bearing treasury reserves without executing manual redemption cycles.

## Sources

- [Spiko Press Room](https://spiko.io/news/series-b-nea-announcement) - Official funding release detailing Series B lead investors, valuation metrics, and European licensing roadmap.
- [The Next Web](https://thenextweb.com/news/spiko-raises-90m-series-b-tokenized-money-market-funds) - Financial analysis of $2.7 billion in assets under management and expansion into Germany, Italy, and Spain.
- [Fintech Futures](https://www.fintechfutures.com/2026/10/spiko-secures-90m-series-b-funding-at-800m-valuation/) - Industry coverage on tokenized cash competition against traditional banking incumbents and regulatory UCITS compliance.

Mentions: Spiko, Paul-Adrien Hyppolite, New Enterprise Associates, Amundi, BNP Paribas, Index Ventures

## Sources
- [Spiko Press Room](https://spiko.io/news/series-b-nea-announcement)
- [The Next Web](https://thenextweb.com/news/spiko-raises-90m-series-b-tokenized-money-market-funds)
- [Fintech Futures](https://www.fintechfutures.com/2026/10/spiko-secures-90m-series-b-funding-at-800m-valuation/)