Spiko raises $90M Series B led by NEA to scale tokenized cash

Spiko has raised $90 million in a Series B round led by New Enterprise Associates, bringing total funding to $120 million. The capital will expand the company’s tokenized cash fund platform, which offers on-chain equivalents of money-market instruments.

The round included participation from Index Ventures, though the company did not disclose valuation or additional backers. Earlier StartupReader coverage had noted involvement from other investors, but the final syndicate composition remains unclear.

Spiko’s model positions it against established players like BlackRock, which has launched its own tokenized treasury fund. The startup’s focus on yield-generating cash equivalents aligns with broader institutional interest in blockchain-based liquidity solutions, though adoption remains concentrated among crypto-native firms and select traditional asset managers.

The timing follows a string of large infrastructure and fintech raises in recent weeks, including Efficient Computer’s $97 million round and Namespace’s rapid $42 million Series B. While tokenized assets have yet to see mainstream traction, Spiko’s funding reflects sustained investor appetite for infrastructure that bridges traditional and decentralized finance.

Sources: pulse2.com