Flowdesk Raises $30 Million to Expand Its Market Making Services

French crypto financial services provider Flowdesk revealed Friday that it has raised $30 million in a Series A funding round led by Eurazeo, Aglaé Ventures and ISAI, with participation from Coinbase (COIN), Ledger, Speedinvest, Fabric.vc and a handful of angel investors These funds will be used by Flowdesk to fund the new venture.

The funds will be used by Flowdesk to expand the trading infrastructure of its market-making service. The product connects 60 cryptocurrency exchanges and has the potential to assist 10,000 cryptocurrency issuers with liquidity and capital management.

Guilhem Chaumont, who founded Flowdesk in 2020, said the company's offering is "fully aligned with the interests of market makers and token issuers, as the strategy is decided by and executed on behalf of the issuer."

In addition, the company offers digital asset management, brokerage and custody services. Cha umont said Flowdesk has been authorized by French regulator Autorité des Marchés to provide brokerage and custody services.

According to Chaumont, compliance is a crucial component company commodity value, "a value proposition not only for the product itself, but also to restore trust in the token issuer." Educate them that they are surrounded by people who are fully regulated and compliant in all jurisdictions where Flowdesk is located."

Chaumont said Flowdesk intends to register its business in a new Singapore office and open an office and register its merchandise in the U.S. Flowdesk also intends to increase its workforce from 35 to 100 employees by the end of 2022.