Flowdesk, a French market maker for cryptocurrency, has successfully closed a Series B funding round of $50 million.
The round was led by Cathay Innovation with participation from Cathay Ledger Fund, Eurazeo, ISAI, Speedinvest, BPI, and Ripple.
According to sources at The Block, the company’s valuation post-investment is now over $250 million.
The funding will go towards expanding the company’s team from 100 to 150 employees, offering new services, and obtaining regulatory licenses in Singapore and the USA.
CEO Guillem Chaumont shared that Flowdesk has seen a significant increase in both trading volume and market maker income in recent months, as the cryptocurrency market has seen a revival.
The company currently supports around 130 digital asset platforms and has a daily trading volume of between $150 million and $400 million.
Specific revenue figures were not disclosed.
