Flowdesk raises $102 million to launch encrypted credit business and enter UAE

According to Foresight News, Flowdesk, a French cryptocurrency market maker and liquidity provider, has raised $102 million in funding, of which 90% is equity financing and approximately 10% ($10.2 million) is debt financing. This round of financing is led by European investment firm HV Capital, with participation from Eurazeo, Cathay Innovation, and ISAI VC. The debt financing is provided by a fund managed by BlackRock. HV Capital also secured a board seat at Flowdesk this time. Flowdesk plans to use this round of funding to expand its business, including launching a dedicated encrypted credit business and setting up an office in the United Arab Emirates. Guilhem Chaumont, co-founder and global CEO of the company, stated that debt financing is a strategic choice for the company to optimize its balance sheet while maintaining sustainable growth and avoiding equity dilution. Flowdesk previously completed a $50 million Series B financing in January 2024, with a valuation of over $250 million at the time. Flowdesk was founded in 2020 and its main business covers market making, liquidity provision (including cryptocurrency ETFs), OTC trading, brokerage services, and financial management. The company stated that its revenue will increase eight times year-on-year in 2024 and it ranks among the top 150 trading venues it operates.