Spiko Raises $90 Million in Series B Funding

Spiko, a cash management solution provider based in Paris, France, has successfully raised $90 million in a Series B funding round. The round was spearheaded by New Enterprise Associates (NEA), with additional investments from Index Ventures, Speedinvest, and White Star Capital. This funding will support Spiko's mission to expand its platform, which allows users to open accounts swiftly, earn daily yields on their treasury, and manage multiple currencies.

Company Background

Spiko offers a comprehensive cash management solution that caters to both companies and individuals. The platform enables users to open an account in under five minutes, providing the flexibility to earn daily yields on their cash while maintaining easy access to their funds. The service supports multiple currencies, making it a versatile option for diverse financial needs.

Leadership Insight

The company was co-founded by Antoine Michon and Paul-Adrien Hyppolite. Hyppolite commented on the funding, stating, "Every person and every organisation holds cash, yet whether it earns anything still depends on who you are and how much you have. Yield should be universal. Our ambition is to make all cash earn by default, around the clock."

Strategic Use of Funds

The newly acquired capital will be directed towards expanding Spiko's tokenised cash management platform. This includes developing a range of regulated cash funds, which offer customers access to their money several times a day or through fixed-term options. Additionally, Spiko plans to enhance its market presence.

Investor Participation

Alongside lead investor NEA, notable contributions came from Index Ventures, Speedinvest, and White Star Capital. The round also saw participation from several angel investors, including the founders of Qonto and Axel Weber, the former president of the Bundesbank.

Future Plans

Looking ahead, Spiko aims to further integrate its products with other financial platforms through API access, broadening its reach and functionality. Businesses and individuals can access Spiko’s offerings via its desktop and mobile applications.

For more information about Spiko and its services, visit their website.