Paris-based fintech Spiko has raised $22 million in a Series A funding round. Founded in 2023, the startup focuses on cash management for SMEs by leveraging blockchain technology.
The company was established by former French government advisers Antoine Michon and Paul-Adrien Hyppolite. They recognized that businesses in Europe face greater challenges in converting assets to cash compared to their U.S. counterparts, largely due to fragmented regulatory frameworks and market structures.
Through tokenization, companies can earn higher interest on low-risk assets like treasury bills. Hyppolite noted, “In Europe, there’s a mistaken belief that your money won’t earn interest unless you lock it away or take on risk. But as long as central bank rates are above zero, sitting on idle cash means European businesses are missing out on returns that U.S. competitors routinely receive.”
The funding round was led by venture capital firm Index Futures, with participation from angel investors including Revolut CEO Nik Storonsky and Wise CTO Harsh Sinha.