Tesseract, a Helsinki, Finland-based institutional digital asset lending company in Europe and emerging markets, raised USD 25m in Series A funding.
The round was led by Augmentum Fintech, with participation from Icebreaker.vc, BlackFin Capital Partners, Concentric, DN Capital, Jabre Capital Partners, LeadBlock Partners, and Sapphire Ventures, as well as Coinbase Ventures, Wintermute, and Woorton and undisclosed local and international investors and strategic angels.
The company intends to use the funds to develop its institutional offerings and cross-trading venue margin lending platform even further, hire new talent to develop new and existing partnerships, and to boost innovation in new undisclosed financial products.
Led by Yichen Wu, CEO, Tesseract provides margin lending platform that improves capital efficiency for institutional clients ranging from hedge funds to market makers. In addition, 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 its white-label solutions.
The company manages hundreds of millions in assets for its customers, is regulated by the Finnish Financial Supervisory Authority, and operates globally.
FinSMEs
21/06/2021