Flowdesk Raises $50m Series B, led by Cathay Innovation

Flowdesk Raises $50m Series B, led by Cathay Innovation Flowdesk Raises $50m Series B, led by Cathay Innovation Fundraising News 22.01.2024 02:05 pm Flowdesk, a full-service digital asset trading technology firm, today announces its $50 million Series B, led by Cathay Innovation along with the participation of Cathay Ledger Fund, Eurazeo, ISAI, Speedinvest, BPI and Ripple.‍ “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 funds raised will be used to consolidate its position as a leading market-making service provider and expand its OTC offering. In addition, Flowdesk plans to expand regulatory coverage in Singapore and in 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 their development plan. Flowdesk experienced a threefold increase in revenues year on year, notably 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 the institutionalization of their flow after their recent collaboration with Societe-Generale FORGE. The Flowdesk team has been focusing on improving trust in the market-making landscape by developing regulated and transparent market-making services for token issuers, exchanges, and institutions. 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. Amid the failures spotlighted in the crypto industry last year, Flowdesk continued the focus on raising the bar in compliance and service quality. By providing a trustless and fair pricing model, Flowdesk addresses these current market challenges of regulation uncertainty, lack of transparency, and high cost. “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 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”, 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” said Thomas Turelier, VC at Eurazeo, Series A lead investor.