Flowdesk, a French digital asset financial technology provider, has nabbed $30 million in funding. The financing came from leading investors such as Eurazeo (which invested in kevin and Back Market), Aglaé Ventures, ISAI, Speedinvest, Fabric.vc, Ledger, and Coinbase, and well-known business angels, including Alexandre Prot (Qonto), Nicolas Julia (Sorare), Pascal Gauthier (Ledger) and Sébastien Borget (The Sandbox).
Ambitious growth plans
Flowdesk is facing an extremely strong demand in the market and opened offices in Singapore in March and is targeting to enter the US to deploy sales and trading teams as well as legal compliance specialists. It also plans to expand its infrastructure and trading platform.
Also, it will use the fundraising to continue to invest in innovation with the aim of developing a complete platform for its clients, allowing them to carry out the simplest to the most complex trading operations themselves.
For Guilhem Chaumont, co-founder and CEO of Flowdesk said: “This fundraising is a key step that will allow us to accelerate at all levels to meet the growing demand in Europe, Asia and North America. It will also give us the means to develop our technological infrastructure to meet the new needs that will emerge in market making.”
For Thomas Turelier, Vice President at Eurazeo said: “An increasing number of companies are issuing tokens and are thus confronted with the complexity of managing a liquid asset in different markets. Most of these companies do not, however, see themselves as financial market professionals: they are technology providers, game developers… A financial infrastructure such as the one proposed by Flowdesk is therefore crucial to allow all these web3 players to develop with the least possible friction while trusting a regulated player aligned with its customers in terms of financial interests.”
For Cyril Guenoun, Partner at Aglaé Ventures said: “We were convinced by Flowdesk’s positioning as a technology provider for cryptocurrency issuers. This emerging and fast-growing market needs scalable tools to ensure secure and sustainable development. The team has proven the robustness of its solution as well as a business model adapted to its customers. With an already international presence and strong speed of execution, Flowdesk has the means to drive the growth of financial services for cryptocurrencies. ”
What does Flowdesk do?
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). It is the originator of a trading infrastructure that allows interconnection with more than 60 cryptocurrency exchange platforms. The company offers four types of services – asset management, brokerage, custody and market-making.
It was the first player offering crypto market-making activities to register with the AMF, the French financial markets authority.
Market-making is Flowdesk’s flagship service and its most differentiating product. It addresses the needs of the majority of the 10,000 cryptocurrency issuers with significant liquidity issues. By making its technology and traders available to these players, the company allows them to manage their cryptocurrency token liquidity themselves with their own funds.