Spiko, a fintech startup modernizing European cash management, has raised $22 million in Series A funding. Index Ventures led the round, joined by White Star Capital, Frst, Rerail, Blockwall, and Bpifrance’s Digital Venture Fund. The company also attracted a roster of prominent angel investors, including Revolut co-founder Nikolay Storonsky, Kyriba’s Jean-Luc Robert, Wise CTO Harsh Sinha, and Blackstone’s Lionel Assant.
The raise follows a year of rapid momentum. Since launching, Spiko has grown its assets under management (AUM) to $400 million organically, without a dedicated sales team. With more than $900 million in working capital processed and over 1,000 businesses on the platform, Spiko expects to surpass $1 billion in AUM by year-end.
European businesses hold more than $25 trillion in idle bank deposits—money that, unlike in the U.S., often doesn’t earn interest. In contrast, American companies routinely earn returns on their cash, even without compromising liquidity.
Spiko is tackling that disparity by offering a simpler path to daily-yielding, risk-free returns. Its early success suggests strong appetite among businesses traditionally underserved by legacy banks.
“In Europe, there’s a mistaken belief that your money won’t earn interest unless you lock it away or take on risk,” said Spiko co-founder Paul-Adrien Hyppolite. “But as long as central bank rates are above zero, sitting on idle cash means European businesses are missing out on returns that US competitors routinely receive. With Spiko, we’re changing the game by making it easy for anyone to put their cash to work.”
To support its rapid growth, Spiko is expanding its distribution through fintech integrations. The company built its infrastructure from the ground up with API access in mind and has already partnered with Fygr and Memo Bank to offer its service to their customers.
The new funds will be used to accelerate this go-to-market strategy. Key priorities include scaling sales and marketing, expanding product features, and onboarding additional fintech and financial institution partners across Europe.
The Series A round will also support broader expansion efforts beyond France, where Spiko first launched. The team aims to offer a seamless, transparent experience to businesses of all sizes, with new tools powered by tokenized infrastructure.
Spiko was co-founded by Paul-Adrien Hyppolite and Antoine Michon, both of whom saw the inefficiencies of Europe’s cash markets firsthand during their time in government. Hyppolite previously worked as an economist at the French Treasury, while Michon was a tech advisor to France’s Minister of Public Sector Transformation and held roles at Palantir and the Prime Minister’s digital directorate.
Together, they built Spiko with a lean nine-person team, proving early that the demand for better cash management in Europe is both urgent and widespread.
Spiko’s tech infrastructure is designed around tokenization, allowing the company to offer fund access to businesses that traditional banks often overlook. By acting as a transfer agent on a blockchain ledger — typically the role of custodians — Spiko removes intermediaries and lowers costs.
The core fund assets are made up of Treasury Bills from Eurozone governments and the U.S. Treasury. These are widely considered among the safest and most liquid assets, as they're backed by sovereign guarantees and closely tied to central bank rates.
Spiko’s platform also supports stablecoin-based transactions, enabling faster, borderless transfers. Users can move between fiat and digital currency, or transfer tokenized shares instead of relying on traditional banking rails.
This latest round adds to a growing list of high-profile supporters. Alongside Index Ventures — the backers of Robinhood, Revolut, and Bridge — Spiko is supported by top-tier angels with experience across fintech, enterprise software, and institutional finance.
“Spiko is going after a vast opportunity in treasury management and leveraging their tokenized fund infrastructure to unlock new pools of liquidity through innovative distribution,” said Julia Andre, Partner at Index Ventures. “Their initial product resonates strongly with customers in Europe, and we’re excited about their vision to tap into huge distribution channels with an expansive product offering over time.”
