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The crypto market maker plans to make use of the capital to launch a devoted credit score desk and open a brand new workplace within the UAE.
Round 80% of the contemporary capital was raised as fairness whereas the remaining 20% is structured as debt.
HV Capital led the fairness spherical with participation from personal fairness agency Eurazeo, Cathay Innovation and ISAI VC.
Flowdesk has rasied $52 million in a Collection B extension bringing the whole for the spherical to $102 million, co-founder and CEO Guilhem Chaumont posted on LinkedIn. Round 80% of the contemporary capital was raised as fairness whereas the remaining 20% is structured as debt, Chaumont instructed The Block.
The corporate beforehand introduced a $50 million Collection B funding spherical in January 2024.
In line with the announcement, the crypto market maker plans to make use of the contemporary capital to speed up its growth plans by launching a devoted credit score desk and launching an workplace within the UAE.
HV Capital led the fairness spherical with participation from personal fairness agency Eurazeo, Cathay Innovation and ISAI VC, whereas the debt financing got here from accounts managed by BlackRock. As a part of the fairness financing settlement, HV Capital will get a board seat at Flowdesk.
Chaumont credited his firm’s “monetary well being” as an enabling issue for selecting debt as a financing possibility, calling it a strategic transfer to scale Flowdesk’s steadiness sheet sustainably. “We are going to achieve this not solely with fairness or our personal income. That’s why we selected the trail of debt, which is a non-dilutive possibility for us,” he stated.
Flowdesk provides a spread of crypto buying and selling providers together with market making, liquidity provision, OTC buying and selling, brokerage and treasury administration. It now desires to scale its OTC derivatives enterprise amid the rising demand for tokenisation merchandise.
“We’re constructing options which are clear, scalable, quick, and aggressive, spanning the complete spectrum of property—from majors to meme cash, and ultimately tokenized securities,” Caumont wrote on LinkedIn.
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