Spiko完成9000万美元B轮融资，加速扩展代币化现金基金业务

Spiko completes a US$90 million Series B financing, with a total financing amount of US$120 million.

Spiko announced the completion of a US$90 million Series B financing led by New Enterprise Associates (NEA). The financing will be used to expand its regulated tokenized cash fund business to more European markets. According to Spiko's announcement, the financing, which was completed on October 6, brought the company's cumulative total financing to US$120 million.

said the funds will be used to launch new cash funds, enter more markets, and form local teams in Germany, Italy, Spain, the Netherlands and the Nordic countries. With this round of capital increase, Spiko disclosed that its assets under management (AUM) has reached US$2.7 billion, covering funds denominated in four currencies.

NEA led the investment: Emphasizing operational expansion rather than single product launch

This round of Series B financing was led by NEA, with Index Ventures, Bpirage, Speedinvest, Flourish Ventures, Shpers, White Star Capital, Blockwall, Frst, EQNX, Mirana Ventures and Wintermute Ventures participating in the investment. Angel investors include former European Central Bank President Axel Weber and the founder of Qonto.

Spiko's disclosed use of funds suggests that its strategy focuses on operational expansion rather than the launch of a single product. The company plans to simultaneously increase fund types and recruit people in various countries, a strategy that requires it to build local business capabilities in five European market groups.

NEA said it led the round of financing because of Spiko's potential to increase the availability of yields through its cash fund platform. The financing significantly increased the company's disclosed capital base, raising its cumulative financing amount to US$120 million.

US$2.7 billion of assets under management provide a solid foundation for expansion

Spiko reports that the US$2.7 billion of assets under management are mainly distributed among regulated tokenized cash funds denominated in euros, dollars, British pounds and Swiss francs. According to a company press release, the number represents a more than five-fold increase in the past 12 months.

It should be pointed out that the asset size and growth data reported are information disclosed by the company itself and are not independent audit data released together with the financing announcement. Still, the numbers reflect the operating fundamentals behind the new round of funding: Spiko already runs funds in four major currency denominated areas and is actively exploring new markets.

According to The Block, more than 10,000 companies and individuals currently use Spiko's funds in more than 25 jurisdictions, either directly or indirectly through financial platforms embedded in the company's API. The platform distribution model is particularly critical to its expansion strategy because it extends access to funds beyond Spiko's direct customer channels.

UCITS structure and internal fund infrastructure support business model

Spiko's funds are issued on public blockchain, but are structurally compliant with regulated UCITS (Transferable Securities Collective Investment Plan) product standards. This combination places its products within the European fund framework, while using blockchain-based issuance methods to achieve a tokenized form of the fund.

According to NEA's description of its investments, Spiko is also responsible for fund registration, transfer agency and infrastructure operations such as net asset value (NAV). These functions are at the core of fund administration, indicating that Spiko's expansion is not just about distributing tokens, but also a large-scale upgrade of the underlying operating system that runs the product.

NEA separately pointed out that Spiko has approximately US$2.7 billion in assets under management and more than 10,000 customers, which is basically consistent with operating indicators disclosed during the financing period. However, neither announcement detailed the type of new cash fund Spiko plans to launch and its release timetable.

New funds and local teams target five European market groups

Germany, Italy, Spain, the Netherlands and Nordic countries are listed as target markets for local recruitment. The geographical list suggests that Spiko is adopting a strategy of combining product expansion with field staffing, rather than viewing Europe as a unified, undifferentiated distribution market.

其现有客户覆盖25多个司法管辖区，提供了更广泛的起步基础；而API模式则为金融机构提供了一个为其自有用户嵌入基金的途径。这种分销基础能否转化为新目标市场的增长，将取决于Spiko对B轮融资规划中提出的本地团队建设和新基金计划的执行力度。

目前最清晰的近期里程碑包括9000万美元资金的部署、新现金基金的添加以及在五个目标欧洲市场群体的团队建设。Spiko正在扩展一种结合公共区块链发行、UCITS基金结构以及内部运营的登记、过户代理和NAV基础设施的商业模式。