Flowdesk, the French Digital Asset Monetary Know-how Supplier, Raises $30 Million to Increase Its Infrastructure and Buying and selling Platform
- Flowdesk introduced that it has raised $30 million from main buyers resembling Eurazeo, Aglaé Ventures, ISAI, Speedinvest, Cloth.vc, Ledger, and Coinbase, and 20 well-known enterprise angels, together with Alexandre Prot (Qonto), Nicolas Julia (Sorare), Pascal Gauthier (Ledger) and Sébastien Borget (The Sandbox).
- Based in 2020, Flowdesk markets a crypto-asset buying and selling resolution and market-making providers for web3 gamers, together with cryptocurrency token issuers, and at the moment employs 35 folks.
- Flowdesk was the primary participant providing crypto market-making actions to register with the AMF, the French monetary markets authority. A standing launched by the PACTE regulation in 2019 and imposing, specifically, compliance with strict anti-money laundering and anti-terrorism financing (AML/CFT) guidelines.
- The startup is a part of a market that’s rising exponentially, with greater than 10,000 cryptocurrencies listed in 2022, in comparison with just a few dozen in 2013. Its purchasers embrace greater than 50 cryptocurrency token issuers, corporations and funding funds.
A buying and selling infrastructure made in France
Energetic within the cryptocurrency sector for a number of years, the 4 co-founders of Flowdesk, Guilhem Chaumont, Paul Bugnot, François Cluzeau and Balthazar Giraux have been working on this sector since 2017 after careers in banking, algorithmic buying and selling, engineering and entrepreneurship. Throughout their respective experiences, they had been marked by the siloing and fracturing of marketplaces and the technological barrier to correctly deal with the liquidity of crypto-asset tasks. In 2020 they selected to develop an infrastructure that will enable them to interconnect and commerce on these exchanges, whereas guaranteeing the redundancy and scalability wanted to help the rising variety of crypto tasks.
An progressive product: Market-Making-as-a-Service (MMaaS)
Flowdesk is thus the originator of a buying and selling infrastructure that enables interconnection with greater than 60 cryptocurrency change platforms. A know-how that its groups use on behalf of Flowdesk in addition to for his or her purchasers and which permits them to supply 4 varieties of providers:
- Asset administration
Market-making is Flowdesk’s flagship service and its most differentiating product. It addresses the wants of the vast majority of the ten,000 cryptocurrency issuers with vital liquidity points. By making its know-how and merchants obtainable to those gamers, Flowdesk permits them to handle their cryptocurrency token liquidity themselves with their very own funds. The service is named Market-Making-as-a-Service in reference to digital fashions primarily based on merely offering know-how to clients who commit their very own assets.
A decisive fund-raising to vary scale
Though Flowdesk’s staff consisted solely of its 4 co-founders originally of 2021, the corporate now employs 35 folks and plans to recruit to achieve 100 workers earlier than the top of 2022. A change of scale for which fundraising was needed. Flowdesk is certainly dealing with an especially sturdy demand in market-making and after having opened workplaces in Singapore in March 2022, is now focusing on the US to deploy gross sales and buying and selling groups in addition to authorized compliance specialists, a very strategic matter for the corporate and its continuously altering regulatory market.
For Guilhem Chaumont, co-founder and CEO of Flowdesk: “This fundraising is a key step that may enable us to speed up in any respect ranges to satisfy the rising demand in Europe, Asia and North America. It is going to additionally give us the means to develop our technological infrastructure to satisfy the brand new wants that may emerge in market making. Our imaginative and prescient is that inside 10 years a big proportion of belongings will probably be tokenized utilizing blockchain know-how, which would require a rethinking of economic providers with a extra scalable and counterparty agnostic method. We should scale up shortly to combine this new monetary state of affairs.”
For Thomas Turelier, Vice President at Eurazeo: “An rising variety of corporations are issuing tokens and are thus confronted with the complexity of managing a liquid asset in several markets. Most of those corporations don’t, nonetheless, see themselves as monetary market professionals: they’re know-how suppliers, sport builders… A monetary infrastructure such because the one proposed by Flowdesk is subsequently essential to permit all these web3 gamers to develop with the least potential friction whereas trusting a regulated participant aligned with its clients by way of monetary pursuits.”
For Cyril Guenoun, Accomplice at Aglaé Ventures: “We had been satisfied by Flowdesk’s positioning as a know-how supplier for cryptocurrency issuers. This rising and fast-growing market wants scalable instruments to make sure safe and sustainable growth. The staff has confirmed the robustness of its resolution in addition to a enterprise mannequin tailored to its clients. With an already worldwide presence and robust velocity of execution, Flowdesk has the means to drive the expansion of economic providers for cryptocurrencies.”
Innovating to empower clients
One other ambition of this fundraising is to proceed to put money into innovation with the goal of growing a whole platform for Flowdesk’s purchasers, permitting them to hold out the best to essentially the most complicated buying and selling operations themselves. A mannequin that may contribute to Flowdesk’s place as a frontrunner in Market-Making-as-a-Service.
Based in 2020 by Guilhem Chaumont, Paul Bugnot, François Cluzeau and Balthazar Giraux, Flowdesk is a digital asset service supplier registered in France with the Autorité des marchés financiers (AMF). Flowdesk is the originator of a buying and selling infrastructure that enables interconnection with greater than 60 cryptocurrency change platforms. The corporate provides 4 varieties of providers: asset administration, brokerage, custody and market-making.
The corporate has workplaces in Paris and Singapore.
Extra info on: Flowdesk
Eurazeo is a number one world funding group with greater than €32bn beneath administration and some of the lively tech buyers in Europe. The group has backed bold entrepreneurs from Seed as much as pre-IPO with investments in Onfido, Tink, Criteo, Talend, Swile, Mano Mano, Wefox, BackMarket, Payfit, Alma, GitGuardian, Doctolib, Contentsquare, Dataiku, Qonto and lots of extra
Aglaé Ventures, the “tech” funding car of Groupe Arnault, invests between €100k and €100m in fast-growing know-how corporations. Current in France and the US, Aglaé Ventures focuses on SaaS software program, marketplaces and content material platforms. Corporations supported by Aglaé Ventures embrace Airbnb, Algolia, Backmarket, Databricks, Lyft, Meero, Riskified, Slack and Spotify.
Launched in 2010, ISAI is the Tech Entrepreneurs’ Fund and brings collectively a neighborhood of over 350 entrepreneurs world wide. ISAI invests in differentiated tasks ran by bold groups that it selects rigorously and actively helps. ISAI Gestion, with over €500 million beneath administration, goals to finance and help excessive potential Tech corporations, on the seed/post-seed stage or after they have already reached the break-even stage (Tech Progress/LBO).
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