Fintech Spiko closes £68.1m series B led by New Enterprise Associates and Index Ventures
This article covers Spiko, a fintech startup that has closed a series B funding round of £68.1m. The capital will support development and scaling of its tokenised cash funds, designed to help businesses, financial platforms and other organisations earn yield on otherwise idle cash.
Spiko, a fintech startup offering tokenised cash funds, has closed a series B funding round of £68.1m, taking its total raised to £90.8m. The influx of capital underlines renewed investor interest in products that let businesses and institutions earn yield on otherwise idle cash.
Why it matters
Large pools of corporate and household cash have historically earned little outside wholesale channels. The company points to roughly $50 trillion of cash and deposits in Europe and the United States, where each percentage point of yield on that sum is worth about $500bn (roughly £378.2bn) a year. That mismatch means banks and big institutions capture most returns while smaller organisations and ordinary businesses frequently hold low- or zero-yield balances.
Spiko’s pitch is a simple one: make cash earn by default for a broader set of users, from small businesses to financial platforms. If successful, the product could shift where short-term cash is parked across the corporate sector and fintech ecosystem.
Inside the product
Spiko builds regulated, tokenised cash funds that cover intraday liquidity and term products. Customers can access funds via desktop and mobile apps, or embed them into their own services through an API. The product is positioned for continuous, software-driven money flows: instant withdrawals are available today, and the company says yield that accrues hourly will follow.
Client types include startups, research institutes, public institutions, venture funds, and medical practices. Funds are available in euro, dollar, sterling, and Swiss franc denominations. The company emphasises operational features aimed at modern payment patterns: continuous availability, API integration for platforms, and suitability for players such as stablecoin issuers and fintechs that need liquidity overnight and at weekends.
Who are the investors?
The round was led by New Enterprise Associates (NEA) and included participation from Index Ventures, Bpifrance, Speedinvest, Flourish Ventures, Shapers, White Star Capital, Blockwall, Frst, EQNX, Mirana Ventures, and Wintermute Ventures. Prominent angel investors also joined, including Axel Weber, former president of the Bundesbank, and the founders of Qonto.
In the announcement, Philip Chopin, Managing Director, Head of Europe, at NEA, said:
We looked at dozens of companies solving pieces of this problem. We believe Spiko is the only one that’s solved the regulatory piece and the product piece at the same time. Paul-Adrien and Antoine are building the default home for cash. Money market funds are where trust is earned, and the same model extends naturally to new markets and new products.
The investor group mixes global venture firms with specialised crypto and fintech backers, reflecting both faith in regulated cash products and interest in tokenisation as a plumbing-layer play for financial services.
If you're researching potential backers in this space:
- Explore our list of fintech venture capital firms in the UK
- Browse our directory of fintech angel investors in the UK
Founder perspective
In the announcement, Paul-Adrien Hyppolite, co-founder and CEO of Spiko, said:
Every person and every organization 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.
Hyppolite frames the business as addressing an access issue rather than inventing a new asset class: the company repackages regulated cash management into interfaces and APIs suited to modern software-first finance.
The bigger picture
Spiko’s raise arrives as investors search for fintech opportunities that combine regulatory compliance with product-led distribution. Europe has lagged the United States in mainstream adoption of money market funds for everyday cash management; tokenisation and API-first distribution could accelerate uptake if regulators and custodians accept the model.
There are unresolved questions: how products scale under stress, the legal treatment of tokenised fund shares in different jurisdictions, and competition from incumbent banks and other fintechs expanding their treasury offerings. The participation of both traditional VCs and crypto-focused investors signals confidence but also highlights the cross-domain regulatory work Spiko must keep doing.
This deal is another sign that UK and European fintech investors are placing bets on infrastructure plays that turn foundational banking services into programmable, embeddable products — an area likely to attract further funding as firms chase yield for corporate clients and platforms.
They've invested in Spiko
Get to know these fintech investors
| Investors | Investment Focus | Startup Investments | Round Size | Connect |
|---|---|---|---|---|
 New Enterprise Associates (NEA)( ) Menlo Park, US  | Series BGrowth | |||
 Index Ventures( ) Index Ventures invests in visionary founders across diverse industries, prioriti... London  | ||||
 Bpifrance( ) Large Venture is a €1 billion venture capital fund dedicated to fast-growing, ca... Paris, France  | SpikoOmniscient | |||
 | ||||
 Flourish Ventures( ) | Series BGrowth | |||
 Shapers( ) | ||||
 White Star Capital( ) White Star Capital is a global multi-stage technology investment platform, opera... London | ||||
 Blockwall( ) Frankfurt, Germany  | ||||
 Frst( ) Frst is a venture capital firm that focuses on investing in early-stage European... Paris, France | ||||
 Mirana Ventures( ) | ||||
 Wintermute Ventures( ) | Series BGrowth | |||
| All investors | All investor sectors | All funded startups | All funding rounds |
| Angel Investors | Location | Connect | Investment Focus | Startup Investments |
|---|---|---|---|---|
Axel Weber | RegtechFintech | |||
| All angel investors | All locations | All investor sectors | All funded startups |
*These angel investors have publicly mentioned their interest in angel investing or are members of angel networks. (Last updated: October 2026)
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