Zurich-based Wyden, a digital asset trading company, announced on Wednesday, November 13, that it has secured $16.9M (approximately €15.9M) in a Series B funding round led by Truffle Capital, a Paris-based global fintech investment firm.
New investors PostFinance, SBI-Sygnum-Azimut Digital Asset Opportunity Fund, and FiveT Fintech, as well as existing investor C3 Venture Capital, also participated in the round.
Fund utilisation
Wyden will use these funds to grow strategically by focusing on new markets and expanding its services for banks, brokers, and exchanges.
The company aims to enter markets where digital assets have strong regulatory standards, like the EU, Switzerland, Turkey, the UAE, Singapore, Hong Kong, Brazil, and other key areas.
In 2025, the Swiss company plans to add up to 20 more banks, brokers, and exchanges to its ecosystem.
To support this, it will grow its team to 100 professionals, focusing on improving sales, marketing, product development, and delivery, particularly in Poland.
By enhancing its teams, Wyden aims to speed up product development and increase sales, setting the stage for future growth.
The announcement comes a few weeks after launching its flagship product — Wyden Infinity, a cloud-native, end-to-end digital asset trading and banking system created to support the digital asset needs of banks and brokers.
Andy Flury, founder and CEO of Wyden, adds, “We are thrilled to solidify our position as a global leader in institutional digital asset trading infrastructure with this Series B funding. Combined with our flagship product Wyden Infinity, we are well equipped to meet the surging demand for secure and efficient trading infrastructure for regulated financial services institutions.”
Wyden: Provider of digital asset trading technology
Founded by Andy Flury, Wyden is a provider of digital asset trading technology for institutions.
The platform simplifies digital asset trading by managing the entire trade process and integrating with custody services, banking systems, and portfolio management.
The company is based in Zurich and has product hubs in Poland, along with offices in Singapore and New York.
Current clients include well-known banks and online brokers like Banque Delubac (France), Smartbroker+, Baader Bank (Germany), Luzerner Kantonalbank, and InCore Bank (Switzerland), along with other major banks.
As per the company’s claims, it is in discussions with potential Tier 1 and Tier 2 banks and brokers that are applying for CASP licenses in France, Italy, Spain, Germany, and Turkey.
The investor
Truffle Capital is an independent European venture capital firm specialising in disruptive technologies in the IT sector (Fintech and Insurtech) and Life Sciences (Medtech and Biotech).
Truffle Capital’s mission is to support the creation and development of young, innovative companies with the potential to become tomorrow’s pioneer.
Currently, the company manages €500M under assets and has raised over €1.2B since its founding.
Truffle Capital has supported more than 120 companies across digital technology and life sciences sectors.
Alexis Le Portz, Partner at Truffle Capital, adds, “Wyden’s impressive institutional client base and innovative platform underscore its leadership in this space. As digital asset regulations evolve, Wyden stands out as the premier choice for banks and brokers, reflecting a strategic opportunity for Truffle Capital.”
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