Paris-based Flowdesk, a beacon in the FinTech industry, announced a significant milestone by raising €46m in Series B funding.
According to Silicon Canals, the full-service digital asset trading technology firm has successfully secured a substantial $50m (approximately €46m) in a Series B funding round.
This impressive financial injection was spearheaded by Cathay Innovation, with notable contributions from Cathay Ledger Fund, Eurazeo, ISAI, Speedinvest, BPI, and Ripple. This confluence of top-tier investors underscores the industry’s confidence in Flowdesk’s vision and capabilities.
At its core, Flowdesk is revolutionising the FinTech landscape. Established in 2020 by a team of visionary founders – Guilhem Chaumont, Paul Bugnot, François Cluzeau, and Balthazar Giraux – the company is recognised as a registered digital asset service provider with the Autorité des marchés financiers (AMF) in France. It has ingeniously developed a trading system that boasts connectivity to over 60 Bitcoin exchange sites, setting a new benchmark in the realm of digital asset trading.
Flowdesk’s multifaceted service suite encompasses asset management, brokerage, custody, and, most notably, market-making. This flagship service directly addresses the pressing liquidity concerns faced by over 10,000 cryptocurrency issuers. By offering Market-Making-as-a-Service, Flowdesk empowers these entities to adeptly manage their cryptocurrency token liquidity, leveraging both advanced technology and the expertise of seasoned traders. This service is a testament to the firm’s commitment to providing scalable, risk-adjusted, and capital-efficient solutions in a market fraught with regulatory uncertainties and volatility.
The new capital infusion is earmarked for strategic objectives. Flowdesk plans to broaden its over-the-counter (OTC) offerings and market-making services, fortifying its position as the industry standard in these domains. Moreover, securing regulatory licenses in strategic financial hubs like Singapore and the US is on the agenda, underlining the firm’s commitment to compliance and global expansion.
Flowdesk’s clientele is as diverse as it is prestigious, including over 50 cryptocurrency token issuers, companies, and investment funds. As the company continues to grow, it remains steadfast in its mission to redefine the digital asset trading landscape.
Flowdesk CEO and co-founder Guilhem Chaumont said, “This raise highlights the significance of Flowdesk as the emerging industry standard for market-making and over-the-counter (OTC) services, offering sustainable and compliant liquidity solutions for token issuers and institutions.”
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