Spiko announced a $90 million Series B funding round on October 6, securing fresh capital to expand its tokenized cash fund business. New Enterprise Associates led the financing, with participation from Index Ventures, Bpifrance, Speedinvest and Wintermute Ventures. The round brings the company’s total funding to $120 million, supporting a business that combines regulated investment funds with blockchain infrastructure and digital distribution through applications and integrations.

The company reported $2.7 billion in assets under management across funds denominated in euros, U.S. dollars, sterling and Swiss francs. More than 10,000 businesses and individuals in over 25 jurisdictions use its products, according to Spiko. The new capital is intended to support additional funds, market expansion and hiring, including local operations in Germany, Italy, Spain, the Netherlands and Nordic markets as the company broadens its European presence.

Customers can access Spiko’s funds through its web and mobile applications, while financial companies can integrate them through an API. Issuing fund interests on public blockchains places them within infrastructure also used by stablecoins and smart contracts. That creates opportunities to automate treasury workflows, such as allocating excess operating cash to an investment product while coordinating the availability of money needed for payroll, supplier payments or other business obligations.

The funding targets both distribution and product development, two different requirements for scaling a cash management platform. More currencies and jurisdictions can broaden the customer base, while integrations can place the funds inside services customers already use. Spiko’s reported fund assets are separate from the venture capital raised in this round. Future growth will depend on attracting and retaining investment balances as the company deploys its new financing across products, teams and markets.