Tesseract, an institutional digital asset lending company in Europe and emerging markets which provides digital asset lending solutions to institutional clients, such as hedge funds and retail trading platforms, globally, has raised USD25 million in its Series A funding round.
The first funding round in Europe focusing on the sector is led by Augmentum Fintech, a London-based leader in FinTech investments. Other participants in the round include global venture capital firms BlackFin Capital Partners, Concentric, DN Capital, Jabre Capital Partners Family Office, LeadBlock Partners, and Sapphire Ventures. Industry participants Coinbase Ventures, Wintermute, and Woorton also subscribed to the round along with undisclosed local and international investors and strategic angels. Icebreaker.vc, which made its first investment in Tesseract in 2018, also participated in the round.
Tesseract bridges institutional capital flows between traditional and digital asset finance. Tesseract’s core products are in margin lending, OTC lending, partnerships with retail trading platforms, and decentralised finance. Tesseract’s one-of-a-kind margin lending platform improves capital efficiency for institutional clients ranging from hedge funds to market makers. Global retail trading platform partnerships allow consumer focused exchanges, custodians, fiat on-ramps, and wallet providers to gain a competitive edge and improved profitability via Tesseract’s white-label solutions.
Yichen Wu, CEO and founder of Tesseract, says: “This funding is a significant milestone for Tesseract and one of the largest Series A investments in Finland to date. We are humbled to gain new industry-leading investors in technology, finance, and blockchain whose expertise will add significant value beyond the raised funding. We are extremely happy to see incredible global investor interest in our business in this oversubscribed round.”
Read more/Source: Private Equity Wire
