Following the conclusion its first financing round, the total funds raised by Flovtec have increased to CHF 4.5 million. The new capital and support from its board members will enable the company to enhance its liquidity solutions for digital assets exchanges and token issuers.
Founded in 2018, flov technologies AG (flovtec) has built a technological infrastructure and fully automated market-making algorithms to facilitate liquidity across dozens of digital asset exchanges and for any token.
In a liquid market, digital assets transactions take place at any time. Currently, most of the digital assets on the blockchain are not tradable due to the lack of liquidity, yet liquidity is a crucial success factor for digital assets. “Liquidity is the missing piece in the digital asset ecosystem, and as the ecosystem continues to grow, it becomes a key challenge that exchanges and token issuers have to overcome”, explains Anton Golub, flovtec’s CEO & Co-Founder. Anton has previously co-founded Lykke.
Among Flovtec’s clients are exchanges and token issuers that use the startup’s liquidity mandate solution. The company has recently partnered up with Archax - the first Financial Conduct Authority FCA-regulated digital asset exchange for digital securities – as a technology partner to offer liquidity solutions to issuers of security tokens. Institutional and professional investors also benefit from the company’s investment product “met@one nematic”, an Actively Managed Certificate that provides them access to digital assets through its quantitative investment strategies, liquidity provision and trend following.
Seed funds banked
Early this year, the company closed a seed round, bringing the total amount raised to CHF 4.5 million. The funds raised will help flovtec reach the technological scalability necessary to onboard clients, exchanges and token issuers at a faster pace. Part of its next step is to expand the business from providing liquidity services to customers and leverage its technology to open up further opportunities to external investors.
A new member joins the Board
Flovtech and its shareholders have elected Daniel Diemers to the Board of Directors (BOD). Diemers is the former Managing Director of Strategy& Switzerland and Head of Blockchain for PwC EMEA where he made a career by bringing together the world of blockchain technology and the more traditional business landscape. His appointment to flovtec’s BOD complements the Board’s strong industry experience and supports flovtec’s strategy for growth and sustainable value creation.
Manuel Krieger, flovtec’s Chairman of the Board of Directors said: “We are thrilled that Daniel Diemers has joined flovtec. His experience and knowledge will play an important role in successfully driving the next phase of flovtec’s development and will be key for our drive to contribute to the growth of the digital assets ecosystem.”
(Press release/RAN)
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