Spiko raises nearly €80 million to widen access to yield on idle cash

Founded in 2023 by Paul-Adrien Hyppolite and Antoine Michon, Spiko designs and distributes its own regulated cash funds. Hyppolite previously served as Deputy Head of the Financial Markets division at the French Treasury, while Michon was a technology advisor to the French government and earlier led deployments at Palantir. The company's regulated cash funds are offered in four currencies: euro, dollar, pound sterling and Swiss franc.

Spiko positions its products to broaden access to yield on cash. Tech.eu reported that Europe and the United States together hold around $50 trillion in cash and deposits, much of which earns little or no return, with smaller businesses, entrepreneurs, nonprofits and financial institutions often having more limited access than banks and large institutions. Clients can use the funds through Spiko's desktop and mobile applications, while companies and financial platforms can integrate the products via an API. The range spans products with sub-daily liquidity to fixed-term options, and its client base includes startups, scaleups, research institutes, public institutions and venture capital funds.

The Romania-founded, London-headquartered fintech will use the funds to expand in the US, win European clients, and scale its AI technology.