Flowdesk, a full-service digital asset trading and technology firm, has successfully closed a significant financing round.
This round amassed $102m, comprising equity injections from HV Capital and debt financing from funds managed by BlackRock. Since its inception in 2020, Flowdesk has positioned itself as a formidable liquidity provider in the cryptocurrency sector.
The firm raised a substantial $102m through contributions from existing shareholders, HV Capital, and financing from BlackRock-managed funds. This capital injection underscores Flowdesk’s strong position in the market and supports its strategic financial backing.
Flowdesk is dedicated to pioneering trading technology and liquidity solutions, particularly through its Market-Making as a Service model. This approach serves both spot and derivatives markets across more than 140 centralized and decentralized exchanges, facilitating a digitally native economy’s demands.
The newly acquired funds are earmarked for several ambitious projects. Flowdesk plans to expand its OTC derivatives operations and introduce a new crypto credit desk. These initiatives are aimed at broadening its offerings to meet the evolving needs of the digital asset market. Additionally, significant investments will be made into the company’s proprietary trading infrastructure.
The firm also anticipates using this round of funding to double its staff count, invest heavily in compliance and legal frameworks, and potentially expand its geographical footprint with new offices, particularly in the UAE. This expansion strategy is poised to reinforce Flowdesk’s role as a leading global liquidity provider and OTC trading firm.
In their statements, Alexander Joel-Carbonell, Partner at HV Capital, praised Flowdesk’s rapid growth and innovative infrastructure. Mårten Vading, co-Head of BlackRock Growth Debt, highlighted the company’s impact on market transparency and standards in the digital assets industry.
In addition to its financial strides, Flowdesk made significant inroads as a Liquidity Provider for various BTC ETF issuers in 2024. According to FactSet, all BTC ETF funds now hold assets exceeding $115bn. “Digital asset ETFs mark a pivotal moment in the evolution of crypto,” Reed Werbitt, US CEO and Chief Revenue Officer at Flowdesk, commented on the maturation of digital assets and their appeal to institutional investors.
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