Spiko, a fintech led by former French officials, has raised €18.5 million in Series A funding to enhance its tokenized money market solutions, addressing a significant demand in Europe for efficient cash management.
Target Information
Spiko is an innovative fintech startup that aims to democratize access to money markets and provide daily interest on cash holdings, effectively bridging the gap between Europe and the United States. Founded just one year ago by Antoine Michon and Paul-Adrien Hyppolite, former officials from the French Ministry of Economy and Finance, the company has quickly gained traction within the financial sector.
Within this short period, Spiko has accumulated over 300 million euros in assets under management and has facilitated more than 800 million euros in subscriptions and redemptions across its money market funds. Spiko's management volume is increasing by an average of 20% each month since the beginning of the year. The firm is advancing its distribution strategies through strategic partnerships with Memo Bank and Fygr.
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Industry Overview in Europe
The European financial landscape is characterized by significant amounts of cash idle in bank accounts, totaling over 20 trillion euros held by businesses and individuals. This situation starkly
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Disclosed details
Transaction Size: $20M