Flowdesk – a full-service digital asset trading technology firm – recently announced a $50 million Series B, led by Cathay Innovation, and the participation of Cathay Ledger Fund, Eurazeo, ISAI, Speedinvest, BPI, and Ripple.
The funding raised will consolidate its position as a leading market-making service provider and expand its OTC offering. And Flowdesk plans to expand regulatory coverage in Singapore and the US. The raise will also be invested into expanding offices in financial hubs and key hires, like Charles Tighe, CFO, who will help Flowdesk roll out its development plan.
Flowdesk saw a threefold increase in revenues year on year, primarily 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. Flowdesk was also recently named as an approved liquidity provider for the Grayscale ETF, marking another milestone in institutionalizing their flow after their recent collaboration with Societe-Generale FORGE.
Flowdesk’s team has been focusing on improving trust in the market-making landscape by developing regulated and transparent market-making services to token issuers, exchanges and institutions. And it has been the pioneering force behind developing Market Making as a Service (MMaaS), a product that lets token issuers utilize Flowdesk’s low-latency trading infrastructure and global team for liquidity provision while keeping full control of their treasury.
KEY QUOTES:
“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.”
– Guilhem Chaumont, CEO and Co-Founder of Flowdesk
“We are proud to champion Flowdesk and very excited to support them to further accelerate their growth and international development. Through their innovative SaaS model, Flowdesk has consistently demonstrated impressive performance over the last three years. Our investment extends beyond capital, foresting a collaborative journey with our long-standing Cathay ecosystem to shape the future of financial markets.”
– 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.”
– Thomas Turelier, VC at Eurazeo, Series A lead investor.
