Flowdesk Raises US$50M, Plans Expansion and Regulatory Licensing in Singaporeby Fintech News Singapore January 22, 2024
Flowdesk, a full-service digital asset trading technology firm, has secured a US$50 million investment in a Series B funding round. The round, led by Cathay Innovation, included participation from entities such as Cathay Ledger Fund, Eurazeo, ISAI, Speedinvest, BPI, and Ripple.
Following its Series B funding, the firm’s primary objectives include significant investment in strategic staffing, expanding its over-the-counter (OTC) services and market-making capabilities, obtaining regulatory licenses in Singapore and the US, and extending its presence into major financial centres.
Additionally, the firm intends to invest in its global infrastructure and key personnel to support its growth strategy.
“This raise highlights the significance of Flowdesk as the emerging industry standard for market-making and OTC services, offering sustainable and compliant liquidity solutions for token issuers and institutions,”
said Guilhem Chaumont, CEO and Co-Founder of Flowdesk.
The Paris-based firm has experienced significant revenue growth and has been expanding its operations in the APAC region, with an office in Singapore in 2022.
The firm aims to continue developing transparent and regulated market-making services to address current market challenges, such as regulatory uncertainty and transparency.
Featured image credit: Edited from Unsplash