Spiko, a Paris-based provider of tokenized cash funds, has reportedly raised $90 million in Series B funding, according to supplied reports from FinSMEs and others.
A supplied report from The SaaS News says the round was led by NEA. Another supplied report from tech.eu says Spiko plans to use the funding to launch new cash funds, enter additional markets, and expand its European team.
That positions the raise as both a capital boost and an expansion push for Spiko's tokenized cash fund platform. A supplied Bloomberg report describes the company as a European startup building tokenized cash funds and says it is aiming to compete with larger players including BlackRock.
Tokenized cash funds are typically designed to put traditional cash-like assets into blockchain-based wrappers, with the pitch of making those holdings easier to move, program, or access in digital financial systems. In Spiko's case, the supplied reporting ties this round to a broader effort to expand access and build out its platform in more markets.
For now, the clearest supported details are the size of the round, NEA's reported lead role, and Spiko's stated plans for the money: more funds, more markets, and a larger team in Europe.
Assignment: af27e580-51f5-4ca3-897e-85bfde2ea55f | Brief: 79839e601d2607a8a4934474dd91e9612c8d3a889d40cafffc49506638a4e3cd
Claim support:
- Spiko raised $90 million in Series B funding: FinSMEs
- The round was led by NEA: The SaaS News
- Spiko plans to use the funding to launch new cash funds, enter additional markets, and expand its European team: tech.eu
- Spiko is a Paris, France-based provider of tokenized cash funds: FinSMEs
