Spiko - Series A

Spiko, a fintech transforming the European cash management market through tokenized infrastructure, has today announced $22 million in Series A funding led by Index Ventures, with participation from White Star Capital, Frst, Rerail, Blockwall and Bpifrance's Digital Venture Fund. The round was supported by notable angels, including Revolut co-founder Nikolay Storonsky, Kyriba founder Jean-Luc Robert, Bridge co-founder Zach Abrams, Wise CTO Harsh Sinha, Blackstone co-CIO Lionel Assant and Pennylane's founding team.

As of today, $25 trillion sits idly in European bank deposits, missing out on yields, capital efficiency, and essential capital protection. This stands in contrast to the US, where the ecosystem for managing liquidity is far more developed, with US businesses of all sizes routinely earning interest on their cash holdings, without sacrificing liquidity. As a result, there's a growing trend in Europe toward better cash optimization and an increased need for businesses to diversify their cash deposits. Spiko is addressing this need, and is experiencing strong early organic market traction as a result.