Finnish Digital-Asset Lender Tesseract Raises $25M in Series A Funding

Finnish digital-asset lender Tesseract has raised $25 million in a Series A funding led by U.K. investor Augmentum Fintech.

The Helsinki-based firm offers digital-asset lending products, including margin loans, to institutional clients such as hedge funds and retail trading platforms.
Tesseract partnered with U.K. custody firm Copper in October to launch a margin trading lending service, allowing clients to borrow funds and trade them automatically across different exchanges.
Other participants in the round included Coinbase Ventures, BlackFin Capital Partners and Jabre Capital Partners Family Office, Tesseract said in an emailed statement.
Tesseract plans to use the money for hiring and product development.
The firm said its clients include international financial institutions, which it declined to identify.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish, a cryptocurrency exchange, which in turn is owned by Block.one, a firm with interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets including bitcoin and EOS. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.

Jamie Crawley

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.

10 Years of Decentralizing the Future