Spiko raises $90 million Series B as tokenised fund AUM reaches $2.7 billion
Key points
- Spiko closed a $90 million Series B led by New Enterprise Associates, bringing cumulative funding to $120 million.
- Platform assets under management reached $2.7 billion as of early October 2026, up from $1.2 billion in March 2026.
- The Spiko Amundi Overnight Swap Fund (SAFO), launched in March 2026, now accounts for approximately two thirds of platform AUM.
- SAFO's institutional stack comprises CACEIS as depositary and administrator, Amundi as delegated investment manager, and BNP Paribas as the swap counterparty.
- Spiko operates across more than 25 countries with a client base exceeding 10,000, suggesting meaningful retail-adjacent or multi-jurisdiction institutional reach alongside its wholesale distribution.
Paris-based tokenised fund platform Spiko has closed a $90 million Series B round led by New Enterprise Associates, lifting total funding to $120 million. Assets under management have reached $2.7 billion across its fund range, more than doubling from the $1.2 billion figure recorded in March, with the platform now serving over 10,000 clients across more than 25 countries.
The AUM acceleration is largely a product story. Spiko launched the Spiko Amundi Overnight Swap Fund (SAFO) in March, a tokenised total return swap fund positioned to deliver higher yields than its existing Treasury bill offerings. Within six months SAFO had captured roughly two thirds of the platform’s total assets, a concentration that reveals how yield-sensitive institutional buyers have been in their uptake.
The institutional architecture around SAFO is what distinguishes it from comparable tokenised cash products. CACEIS, the custody subsidiary of Crédit Agricole, acts as depositary bank and fund administrator, a relationship that predates SAFO and was instrumental in building Spiko’s distribution into CACEIS’s existing client base. Amundi, Europe’s largest asset manager and also a Crédit Agricole-controlled entity, serves as delegated investment manager, while BNP Paribas functions as the global systemically important bank (G-SIB) swap counterparty underpinning the fund’s return profile. That chain of institutional names compresses the counterparty risk question that often slows institutional allocation to tokenised structures, and it raises the competitive bar for any platform attempting to replicate the product without comparable anchor relationships.