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Finance

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

The company plans to use the money for hiring and product development.

By Jamie Crawley
AccessTimeIconJun 21, 2021 at 7:00 a.m. UTC
Updated May 9, 2023 at 3:20 a.m. UTC
Helsinki
Helsinki

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.
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