French crypto market maker Flowdesk completes $52 million Series B extension financing, led by HV Capital

ChainCatcher news, French crypto market maker and liquidity provider Flowdesk has completed a $52 million Series B extension financing, with 80% being equity financing and approximately 20% ($10.2 million) being debt financing. The equity financing round was led by European investment firm HV Capital, with participation from Eurazeo, Cathay Innovation, and ISAI VC, while the debt financing portion was provided by funds managed by BlackRock. HV Capital also gained a seat on Flowdesk's board.

Flowdesk plans to use the funds from this round to expand its business, including launching a dedicated crypto credit business and establishing an office in the UAE. The company's co-founder and global CEO Guilhem Chaumont stated that the 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, at which time it was valued at over $250 million.

Flowdesk was founded in 2020, with its main business covering market making, liquidity provision (including crypto ETFs), OTC trading, brokerage services, and financial management.