Spiko Raises $22M to Innovate Fund Management with Tokenization

In a significant boost to its growth prospects, fintech startup Spiko has secured $22 million in Series A funding led by Index Ventures, with other significant contributions from White Star Capital, Frst, and Rerail. This round also saw participation from notable angels such as Revolut's co-founder Nikolay Storonsky and Wise's CTO Harsh Sinha. Spiko leverages tokenization to democratize access to treasury yields, specifically targeting smaller businesses often overlooked by traditional banks. By acting as a blockchain-based transfer agent, Spiko reduces middlemen costs, creating an efficient and cost-effective fund management structure that allows for 24/7 cash-equivalent transfers globally. Their tokenized architecture facilitates funds via stablecoins and broadens transactional flexibility beyond traditional wire payments. Primarily focused on money market funds, Spiko's assets include Treasury Bills, which are risk-free, highly liquid, and backed by central bank policies. Initially starting in France, the company is now poised to expand throughout Europe, investing in sales, marketing, and new partnerships to roll out their fintech solutions.