Flowdesk Revenue, Valuation, Funding & Investors
Flowdesk is valued at $250M as of January 2024, a 6.9x multiple on its last reported $36M revenue.
Last Flowdesk valuation
$250M
Series B · Jan 2024
Last Flowdesk funding round
$92M
Undisclosed stage · Mar 2025
Flowdesk revenue
$36M
Series B · Jan 2024
Key investors in Flowdesk
Eurazeo
Cathay Innovation
Isai
Bpifrance
Speedinvest
HV Capital
About Flowdesk
Flowdesk is a Paris-headquartered digital asset prime broker offering market making, OTC trading, and treasury services across 140 centralized and decentralized exchanges. Registered with France's AMF, it provides algorithmic execution and collateral management for Bitcoin, Ethereum, and altcoins to exchanges and institutions. Flowdesk manages over $1 billion in monthly volume.
Founded
2020
HQ
ParisWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Commission
Revenue
$36M (Jan 2024)
Valuation
$250M (Jan 2024)
Flowdesk Valuation
Flowdesk is currently valued at $250M, based on its Series B in January 2024.
The $50M round was led by Cathay Innovation, with participation from Ledger Cathay Capital, Speedinvest, Isai, Bpifrance, Eurazeo and 1 other investor.
Flowdesk valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jan 2024 | Series B | $250M | 6.9x |
Flowdesk Revenue
Flowdesk's latest recorded revenue is $36M, as of its Series B in January 2024. At a $250M valuation, that implies a 6.9x revenue multiple.
Flowdesk revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jan 2024 | $36M | $250M | 6.9x | Series B |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Flowdesk Funding History
Flowdesk has raised a total of $172M across 3 funding rounds.
Flowdesk's first fundraising round was a $30M Series A in June 2022. The most recent completed round was a $92M undisclosed-stage round in March 2025.
Flowdesk funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Mar 2025 | Undisclosed stage | HV Capital (lead); Isai; Eurazeo; Cathay Innovation | $92M | - | Flowdesk is a leading digital asset trading and technology firm founded in 2020, specializing in liquidity provision through its Market-Making as a Service offering across spot and derivatives markets on over 140 centralized and decentralized exchanges. It also provides OTC trading, treasury management, brokerage, and proprietary trading services, positioning itself as both a financial services and technology company with proprietary algorithms and risk management tools. The firm served as a liquidity provider for BTC ETF issuers in 2024, amid BTC ETFs holding over $115 billion in assets per FactSet. In March 2025, Flowdesk closed a $102 million financing round, comprising a $52 million Series B extension (bringing total Series B to $102 million from the initial $50 million in January 2024) with equity from lead investor HV Capital and existing backers Eurazeo, Cathay Innovation, and ISAI, plus debt from BlackRock-managed funds (roughly 10-20% debt). The capital supports scaling OTC derivatives, launching a crypto credit desk, heavy investment in trading infrastructure and compliance, doubling headcount from 150 to around 250, and opening offices including in the UAE for global expansion. Total funding since inception reached $182 million. Flowdesk reported revenues grew eightfold in 2024 following 2023 global expansion, with the company described as profitable and financially healthy, enabling non-dilutive debt. CEO Guilhem Chaumont highlighted revenue from subscriptions, OTC fees, and proprietary trading. Competitors include Galaxy Digital, Cumberland, and Jump Crypto, but Flowdesk differentiates via integrated tech and services for institutional digital asset needs. |
| Jan 2024 | Series B | Cathay Innovation (lead); Ledger Cathay Capital; Speedinvest; Isai; Bpifrance; Eurazeo; Ripple | $50M | $250M | Flowdesk is a full-service digital asset trading technology firm specializing in market-making and over-the-counter (OTC) services, providing compliant liquidity solutions for token issuers and institutions amid crypto market challenges like regulatory uncertainty and volatility. On January 18, 2024, it announced a $50 million Series B funding round led by Cathay Innovation, with participation from Cathay Ledger Fund, Eurazeo, ISAI, Speedinvest, Bpifrance, and Ripple. The round raised the company's valuation to over $250 million from $100 million in 2022. The funds are earmarked for consolidating its position as a leading market-making provider, expanding OTC offerings, securing regulatory licenses in Singapore and the US, hiring key personnel like CFO Charles Tighe, and opening offices in financial hubs. Flowdesk emphasizes a trustless, fair pricing model and high compliance standards, addressing transparency and cost issues in digital assets. Investors highlighted its innovative SaaS model and impressive performance over the prior three years, with Cathay Innovation's Jacky Abitbol joining the board. Subsequent developments include finalizing a $102 million equity financing round extension with HV Capital and debt from BlackRock-managed funds, plus a $52 million extension in March 2025 mostly as equity, and a $100 million credit facility from Two Prime secured by bitcoin holdings. These aim to accelerate global expansion, double workforce, open a UAE office, and pursue real-world asset tokenization and crypto-credit desks while preparing for EU regulations. Flowdesk is described as hyper-growing and profitable by later investors like HV Capital. |
| Jun 2022 | Series A | Aglaé Ventures (lead); Eurazeo (lead) | $30M | - | Flowdesk is a Paris-based digital asset financial technology provider founded in 2020 by Guilhem Chaumont, Paul Bugnot, François Cluzeau, and Balthazar Giraux. The company develops trading infrastructure and provides market-making services for web3 players, including cryptocurrency token issuers. It is registered with the French financial markets authority (AMF) and was the first player to offer crypto market-making activities under AMF regulation. The platform interconnects with more than 60 cryptocurrency exchanges and offers four core services: asset management, brokerage, custody, and market-making. In June 2022, Flowdesk closed a Series A funding round of €28.33 million (approximately $30 million USD), co-led by Eurazeo, Aglaé Ventures, and ISAI. Additional investors included Speedinvest, Fabric.vc, Ledger, and Coinbase, along with 20 angel investors including Alexandre Prot (Qonto), Nicolas Julia (Sorare), Pascal Gauthier (Ledger), and Sébastien Borget (The Sandbox). The funding was allocated to expand the company's infrastructure, trading platform, and operations across Europe, Asia, and North America. Market-making is Flowdesk's flagship and most differentiated service, designed to address liquidity issues for approximately 10,000 cryptocurrency issuers. By providing technology and traders, the company enables token issuers to manage their cryptocurrency liquidity independently using their own funds, positioning itself as a Market-Making-as-a-Service leader. At the time of the round, Flowdesk employed 35 people and planned to expand to 100 employees by the end of 2022, reflecting strong demand for its services. The company operates as a regulated financial services provider, aligning with regulatory frameworks while serving the emerging web3 ecosystem's infrastructure needs. |
Who has invested in Flowdesk?
9 investors have backed Flowdesk across its funding rounds, including Eurazeo, Cathay Innovation, Isai, Bpifrance, Speedinvest and HV Capital.
Lead investors include HV Capital, Cathay Innovation, Aglaé Ventures and Eurazeo.
Flowdesk Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| France | 3 | Lead | Jun 2022 | |
| Paris | 2 | Participant | Jan 2024 | |
 San Francisco, CA | 2 | Lead | Jan 2024 | |
| Paris | 1 | Participant | Jan 2024 | |
 Vienna | 1 | Participant | Jan 2024 | |
| Paris | 1 | Participant | Jan 2024 | |
| Paris | 1 | Lead | Jun 2022 | |
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Start Free TrialInvestments by Flowdesk
Flowdesk has invested in 19 companies to date.
Latest investment by Flowdesk was on August 19th 2026. Flowdesk invested in Blueprint Finance in their Undisclosed stage round.
Latest Investments by Flowdesk
| Description | Blueprint Finance is a blockchain protocol developer building decentralized lending and borrowing infrastructure on Ethereum. San Francisco-headquartered, the platform offers on-chain credit scoring and collateralized loans for DeFi users. Launched in 2023, Blueprint integrates with Aave and Compound. | Blockworks is a platform linking investors and businesses in onchain capital markets. Businesses use it to build trust while investors access data for underwriting onchain assets. | Enhanced builds blockchain infrastructure for structured products in crypto and DeFi, allowing users to earn yields on assets through derivative strategies. | Macropod supplies browser-based assessment tools for hiring, education, and professional development. Recruiters and educators deploy its online tests, assignments, and coding challenges via a central dashboard with ATS and LMS integrations for skill evaluation and performance analysis. | |
| HQ Country | | | - |  | |
| HQ City | New York City, NY | New York City, NY | - | Sydney | |
| Deal Date | 19 Aug 2026 | 28 Apr 2026 | 8 Apr 2026 | 7 Mar 2026 | |
| Round | Undisclosed stage | Series A | Pre-seed | Seed | |
| Raised | undisclosed | undisclosed | $1M | undisclosed | |
| Investors | G-20 Group; FalconX; 2Square; Andes Venture Capital; Bullish; BitGo Holdings; Polychain; Keyrock; Sentient Capital; JPEG Trading | Auros; ParaFi Capital; EV3 Research; Coinbase Ventures; Milk Road; Advancit Capital; Modular Capital; The 6ixth Event; The Rollup; MoonPay Ventures; Reciprocal Ventures | GSR; Maximum Frequency Ventures; Selini Capital | Galaxy Digital; Primal Capital; Betashares Capital; Digital Asset Capital Management | |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
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Flowdesk Competitors
Flowdesk competitors include listed companies like BTCS and Capital B, and private ones like Bitcoin Suisse, Coinhouse, 4ARTechnologies AG and Aperture Finance.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Zug | Private | - | - | $312M | - | |
| Paris | Private | - | - | $345M | - | |
| United States | Publicly listed | $16M | ($30M) | $73M | 2.2x | |
| Switzerland | Private | - | - | $250M | - | |
| San Francisco, CA | Private | - | - | $250M | - | |
| France | Publicly listed | $13M | ($5M) | $223M | 6.6x |
Flowdesk Public Comps
Flowdesk is still privately-owned, but its public comps include LS Securities, Capital B, Wewards, JDC Group, Gedik Yatırım, DeFi Technologies, ProCap Financial, Exodus Movement, Sino and Oyak Yatırım.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $143M | - | 1.7x | - | - | - | |||
| $13M | ($5M) | 6.6x | 6.6x | (15.9x) | (15.7x) | |||
| - | ($77K) | - | - | (2932.9x) | - | |||
| $288M | $24M | 1.2x | 1.1x | 15.0x | 9.9x | |||
| $8.9B | $17M | 0.0x | - | 12.0x | - | |||
| $76M | $70M | 1.0x | 1.4x | 1.1x | (16.5x) | |||
| - | - | - | - | - | - | |||
| $122M | ($21M) | 1.4x | 1.4x | (8.0x) | (13.8x) | |||
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Common questions about Flowdesk
| When was Flowdesk founded? | Flowdesk was founded in 2020. |
| Where is Flowdesk headquartered? | Flowdesk is headquartered in Paris, France. |
| Is Flowdesk publicly listed? | No, Flowdesk is a private, VC-backed company. |
| What is Flowdesk's valuation? | Flowdesk was last valued at $250M in its Series B in January 2024. |
| How much funding has Flowdesk raised? | Flowdesk has raised $172M across 3 funding rounds. |
| What was Flowdesk's last funding round? | Flowdesk's last funding round was a $92M undisclosed-stage round in March 2025, led by HV Capital. |
| Who are Flowdesk's investors? | Flowdesk's investors include Eurazeo, Isai, Cathay Innovation, Ledger Cathay Capital, Speedinvest, Bpifrance, Aglaé Ventures, HV Capital and Ripple. |
| What is Flowdesk's revenue? | Flowdesk's latest recorded revenue is $36M (January 2024). |
| What is Flowdesk's revenue multiple? | Flowdesk's latest valuation implies a 6.9x revenue multiple ($250M valuation on $36M of revenue). |
| Which companies are comparable to Flowdesk? | Companies comparable to Flowdesk include Bitcoin Suisse, Coinhouse, BTCS, 4ARTechnologies AG, Aperture Finance and Capital B. |
| How many companies has Flowdesk invested in? | Flowdesk has invested in 19 companies, including Blueprint Finance, Blockworks, Enhanced, Macropod, Birch Hill Holdings, Button, OpenEden and Printr. |
| What was Flowdesk's last investment? | In August 2026, Flowdesk invested in Blueprint Finance's undisclosed-stage round alongside G-20 Group, FalconX, 2Square and 7 other investors. |
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