Digital asset management and lending offering startup Tesseract raises $25 million in a Series A
The Helsinki-based financial services and investment management innovator Tesseract, specializing in digital assets lending, has today closed a $25 million Series A. London-based and leader in FinTech investments Augmentum Fintech has led the round along with institutional investors BlackFin Capital Partners, Concentric, DN Capital, Jabre Capital Partners Family Office, LeadBrlock Partners and Sapphire Ventures. Icebreaker.vc, Coinbase Ventures, Wintermute and Woorton also saw participation as well as other undisclosed local and international angel investors. The CEO of Tesseract Yichen Wu, stated that this was one of the largest Series A raised in Finland so far.
Wu also explained: “The funding will be aimed towards developing our industry-leading institutional offerings even further, hiring new talent to develop new and existing partnerships, and to boost innovation in new undisclosed financial products. We will also focus on developing our cross-trading venue margin lending platform, which has seen enormous uptake in the past year. Due to the global nature of our fast-moving business, we will also funnel efforts into spearheading our global growth and ensuring regulatory compliance globally.”
Tesseract, which was founded in 2017, is a forerunner in the ever-evolving digital asset sector and has multi-disciplinary expertise in providing industry-leading solutions in investments, portfolio management, capital markets operations, and blockchain technology. Tesseract offers a white-label solution for retail trading platforms, exchanges, custodians, fiat on-ramps and and wallet providers and reports a “one of a kind” margin lending platform in use by hedge funds and market makers.
The firm offers its services globally even thought it is based in Finland, one of the better options being in the digital assets market. The company also saw a 20 times growth rate year on year and grew the team size almost 7x.
Martyn Holman, lead investor at Augmentum Fintech explained: “We are witnessing wholesale changes in the infrastructure supporting the crypto space as it evolves to the demands of increasing institutional activity. Following the separation of custody and trading in the first waves of evolution, Tesseract is addressing the next fundamental need in a space that has limited leverage capabilities,”
Source: TesseractInvestment “ Tesseract Raises $25 million in Series A funding to Strenghten Institutional Digital Asset Lending Offering”