Crypto Market Maker Flowdesk Raises $50M in Series B Funding

The funding round, led by Cathay Capital, brings the company's valuation to over $250 million as it plans global expansion and regulatory compliance.

Flowdesk, a crypto market-making and over-the-counter trading service provider, has raised $50 million in Series B funding led by Cathay Capital. The round also drew participation from Cathay Ledger Fund, Eurazeo, ISAI, Speedinvest, BPI and Ripple.
Flowdesk serves as one of the four liquidity providers for Grayscale’s recently approved spot bitcoin ETF. Liquidity providers regulate the buying or selling of bitcoin, contingent on investors creating or redeeming shares of the ETF.
Flowdesk's Series B round brings the crypto market maker’s valuation to over $250 million.
Flowdesk plans to further expand its business globally, with a focus on growth in Singapore and the U.S., and with a new office in London.
Flowdesk CEO Guilhem Chaumont said the company will use part of the $50 million raise to accelerate the process of getting licenses for every jurisdiction in which it operates, including the U.S. and Singapore.