French Crypto Market Maker Flowdesk Raises $50 Million in Series B Funding
The French crypto market maker, Flowdesk, has successfully raised $50 million in a Series B funding round. The funding was led by Cathay Ledger and Ripple, with participation from Eurazeo, ISAI, Speedinvest, and Bpifrance. This brings the total valuation of Flowdesk to $250 million.
Expansion Plans for Flowdesk
With the new capital injection, Flowdesk plans to expand its operations to Singapore and the United States. The company also aims to obtain regulatory licenses to comply with the regulations of these countries. Additionally, Flowdesk intends to hire an additional 50 employees to strengthen its team.
Flowdesk’s Growth in the Market Maker Industry
Prior to this funding round, Flowdesk had already achieved significant success in the crypto market maker industry. The company has seen a strong increase in trading volumes and cash flows due to the recent recovery of Bitcoin and other cryptocurrencies. In fact, Flowdesk reported a threefold increase in revenues compared to the previous year.
Utilizing Funds for Global Expansion and Compliance
The funds raised in this Series B round will be used by Flowdesk to expand its business globally. The company plans to enter the markets of Singapore and the United States while ensuring compliance with international regulations. Additionally, part of the funding will be allocated towards hiring 50 new employees.
Hot Take: Flowdesk Secures $50 Million in Funding for Expansion
Crypto market maker Flowdesk has successfully raised $50 million in a Series B funding round led by Cathay Ledger and Ripple. With a market valuation of $250 million, Flowdesk plans to expand its operations to Singapore and the United States. The company also aims to obtain regulatory licenses and hire 50 new employees. This funding round comes at a time when Flowdesk has already experienced significant growth in the market maker industry, with increased trading volumes and revenues. The funds will support Flowdesk’s global expansion plans and ensure compliance with international regulations.
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