Wyden, a digital asset trading infrastructure provider, secured $16.4 million in Series B funding to expand its client base and strengthen its platform.
Wyden to Strengthen Poland Development Hubs
On Nov. 13, Wyden, the digital asset trading infrastructure provider, announced it had secured approximately $16.4 million (CHF 14.5 million) in a Series B funding round. France-based fintech investment firm Truffle Capital led the round with the participation of new investors such as Postfinance, SBI-Sygnum-Azimut Digital Asset Opportunity Fund, and Fivet Fintech. An existing investor, C3 Venture Capital, also took part.
Wyden said it intends to use the investment to accelerate its sell-side expansion for banks, brokers, and exchanges. It also aims to reach markets where digital asset operations are regulated like traditional financial services. In addition to integrating 20 more banks, brokers, and exchanges, Wyden plans to strengthen its various functions and development hubs in Poland.
Commenting on his firm’s successful Series B round, Andy Flury, founder and CEO of Wyden, said:
We are thrilled to solidify our position as a global leader in institutional digital asset trading infrastructure with this Series B funding. Combined with our flagship product Wyden Infinity, we are well equipped to meet the surging demand for secure and efficient trading infrastructure for regulated financial services institutions.
Alexis Le Portz, a partner at Truffle Capital, said Wyden’s client base and its unique platform position it as a leader in the digital asset infrastructure services business. Denis Lenz, investment manager at Postfinance, highlighted Wyden’s “unparalleled ability to seamlessly align with and anticipate institutional client needs” as a key factor that sets it apart for banks and brokers.
Wyden has been expanding its client base, particularly among regulated banks and brokers in Europe. It has secured clients in France, Germany, and Switzerland, and is actively pursuing partnerships with more banks and brokers seeking crypto licenses in various European countries.