Paris-based Flowdesk, a full-service digital asset trading technology firm, announced on Thursday that it has secured $50M (approximately €46M) in a Series B round of funding led by Cathay Innovation with participation from Cathay Ledger Fund, Eurazeo, ISAI, Speedinvest, BPI, and Ripple.
The company will use the funds for strategic hires, broadening its over-the-counter (OTC) offering and Market-Making services, securing regulatory licenses in Singapore and the US, and expanding into key financial hubs.
“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. In a landscape marked by regulatory uncertainties, volatility, and multiple industry-wide setbacks, liquidity has remained scarce. Flowdesk’s full suite of services aims to revolutionize this landscape, offering scalable, risk-adjusted, and capital-efficient solutions,” says Guilhem Chaumont, CEO and co-founder of Flowdesk.
The announcement comes over a year and a half after raising €28.33M in a fresh round of funding from Eurazeo, Aglae Ventures, ISAI, Speedinvest, Fabric.vc, Ledger, and Coinbase, among others.
Flowdesk: Developed a trading infrastructure
Founded in 2020 by Guilhem Chaumont, Paul Bugnot, François Cluzeau, and Balthazar Giraux, Flowdesk is a digital asset service provider registered in France with the Autorité des marchés financiers (AMF).
The company has created a system for trading that enables connectivity to more than 60 sites for Bitcoin exchange.
Flowdesk provides a wide range of digital assets services — Asset management, brokerage, custody, and market-making.
Among its four service categories, market-making is its flagship service. It addresses the needs of the 10,000 cryptocurrency issuers with significant liquidity issues.
By making its technology and traders available to these players, Flowdesk allows them to manage their cryptocurrency token liquidity with their funds.
The service is called Market-Making-as-a-Service about digital models based on simply providing technology to customers who commit their resources.
Currently, Flowdesk’s clients include over 50 cryptocurrency token issuers, companies, and investment funds.
The French company has experienced a threefold increase in revenues year on year, driven by the growth of the APAC region under the supervision of David Bachelier (Chief Markets Officer and CEO of APAC).
Their newly opened US and Canada office, led by Reed Werbitt (ex-Managing Director and Head of Cash Trading at Genesis), has been scaling rapidly over the past few months.
The OTC desk, joined by Hanson Birringer, Greg Guttas, and Warren Wynn (respectively Head of OTC sales, Head of OTC trading, and Head of Trading Operations), has been running full speed.
What do the investors have to say?
“We are proud to champion Flowdesk through our Ledger Cathay fund. We are very excited to support them to further accelerate their growth and international development. Through its innovative SaaS model, Flowdesk has consistently demonstrated impressive performance over the last three years. Our investment extends beyond the capital, foresting a collaborative journey with our long-standing Cathay ecosystem to shape the future of financial markets”, adds Jacky Abitbol, Managing Partner at Cathay Innovation.
Flowdesk’s execution and achievements since Series A have been extremely impressive in all market conditions. Therefore, we decided to double down and renew our support for Guilhem and his team” says Thomas Turelier, VC at Eurazeo, Series A lead investor.