Spiko Raises $90M Series B as Tokenized Cash Funds Reach $2.7B
NEA led Spiko's $90 million Series B as the fintech scales tokenized cash funds, APIs and programmable treasury products.
Spiko has raised a $90 million Series B led by New Enterprise Associates (NEA), with Index Ventures, Speedinvest, White Star Capital and others participating. The round takes total funding to $120 million.
The round at a glance
- Amount: $90 million
- Stage: Series B
- Lead: New Enterprise Associates
- Total funding: $120 million
- Reported assets under management: about $2.7 billion
Spiko issues regulated tokenized cash funds and lets businesses and individuals access them through apps and APIs. The thesis is that cash management can become programmable infrastructure: treasury teams or software agents can move idle balances into yield-bearing products without giving up fast access to liquidity.
Why it matters
Tokenization is often discussed as a market-structure experiment. Spiko is trying to turn it into a practical treasury product. Investor reporting says the company serves more than 10,000 businesses and individuals across more than 25 jurisdictions and has grown assets under management more than fivefold over the past year.
The central risk is operational and regulatory rather than purely technical. Expansion across jurisdictions requires fund structures, distribution permissions and reliable liquidity management. If Spiko can handle that complexity while preserving the API-driven experience, it could become infrastructure used by fintechs and corporate treasury products rather than only a direct-to-user fund platform.
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Editorial note: AI tools assisted with research, structure, or drafting. Venture Capital Tracker retains human editorial responsibility for factual accuracy, relevance, and source quality before publication.
