"Flowdesk Raises $102M, Plans Crypto Credit Desk Amid Bullish Market"

Crypto market maker Flowdesk has secured $102 million in a mix of equity and debt funding to expand its services, the company announced. The majority of the round, approximately 90%, consists of equity, with the remaining around 10% structured as debt. HV Capital, a European investor, led the equity portion of the round, with participation from French private equity firm Eurazeo, Cathay Innovation, and ISAI VC. The debt financing came from funds and accounts managed by BlackRock.

As part of the investment, HV Capital has gained a board seat at Flowdesk. The company's co-founder and global CEO, Guilhem Chaumont, emphasized that taking on debt was a strategic move aimed at scaling the firm's balance sheet in a sustainable way. He noted that this option was available to Flowdesk given its financial health and capacity to easily repay the debt.

Flowdesk's latest funding comes just over a year after its $50 million Series B round, which valued the company at over $250 million. Chaumont declined to disclose Flowdesk's current valuation but stated that the firm remains "financially healthy." The funding comes amid a bullish crypto market driven by rising institutional adoption, regulatory clarity, and increasing demand for tokenization.

Founded in 2020, Flowdesk provides crypto trading services, including market making, liquidity provision, OTC trading, brokerage, and treasury management. The firm's revenue grew eightfold in 2024, and it ranks among the top liquidity providers on most of the 150 venues where it operates.

With fresh capital in hand, Flowdesk plans to capitalize on the growing demand for tokenization, scale its OTC derivatives business, and set up a dedicated crypto credit desk. The credit desk aims to bridge a gap in the market for crypto credit facilities by acting as an institutional credit provider, facilitating borrowing and lending at competitive rates.

Beyond setting up its credit desk, Flowdesk is doubling down on proprietary trading infrastructure and compliance. The firm plans to nearly double its workforce within the next 12 months, adding to its existing locations in France, Singapore, and the U.S. Additionally, Flowdesk intends to open an office in the United Arab Emirates. On the regulatory front, the company is actively preparing for the European Union's Markets in Crypto