France-based trading infrastructure developer Flowdesk has collected $30m in its funding round.
With the capital, Flowdesk hopes to accelerate its development to meet demand in Europe, Asia and North America. The funds will help it develop technological infrastructure to meet the new needs that will emerge in the market.
Flowdesk was founded in 2020 by Guilhem Chaumont, Paul Bugnot, François Cluzeau and Balthazar Giraux after careers in banking, algorithmic trading, engineering and entrepreneurship.
During their experiences, they were all marked by the technological barrier to handle liquidity of crypto-asset projects. In 2020, they decided to develop an infrastructure that would allow them to interconnect and trade on exchanges, whilst guaranteeing the redundancy and scalability needed to support the growing number of crypto projects.
Flowdesk allows interconnection with 60 cryptocurrency exchange platforms. Its technology helps clients with asset management, brokerage, custody and market-making.
Its flagship offering is helping cryptocurrency issuers with liquidity issues. The platform allows them to manage their cryptocurrency token liquidity themselves with their own funds.
Eurazeo vice president Thomas Turelier said, “An increasing number of companies are issuing tokens and are thus confronted with the complexity of managing a liquid asset in different markets. Most of these companies do not, however, see themselves as financial market professionals: they are technology providers, game developers…
“A financial infrastructure such as the one proposed by Flowdesk is therefore crucial to allow all these web3 players to develop with the least possible friction while trusting a regulated player aligned with its customers in terms of financial interests.”
The FinTech company is currently looking to expand its team of 35 to reach 100 by the end of the year.
Last week, digital assets platform FalconX reached an $8bn valuation after it closed its Series D round on $150m. The company empowers institutions to access and manage all of their crypto strategies via a single interface and seamless workflows.
Copyright © 2022 FinTech Global
