Wyden secures USD 16.9 M in Series B Funding to expand digital asset infrastructure

13.11.2024 12:00, Rita Longobardi

Wyden, a leading provider of institutional infrastructure for the digital asset trading lifecycle, has closed its Series B funding round, raising USD 16.9 M (CHF 14.5 M). This investment will support the company's continued growth and innovation in the digital asset space.

Wyden, a leader in institutional infrastructure for digital asset trading, has successfully closed a USD 16.9M Series B round, led by Truffle Capital with participation from PostFinance—which first discovered Wyden during the Venture Leaders Fintech 2017 program—SBI-Sygnum-Azimut Digital Asset Opportunity Fund, FiveT Fintech, and existing investor C3 Venture Capital. PostFinance first discovered Wyden during the Venture Leaders Fintech 2017 program.

Wyden will use the funds to expand into new markets and further grow its sell-side services for banks, brokers, and exchanges, with a focus on regulatory compliance in regions like the EU, Switzerland, UAE, Singapore, and Brazil. The company aims to integrate 20 additional clients in 2025 and expand its team to 100 professionals, with a core focus on sales, marketing, and product development.

Wyden’s client base includes major banks like Banque Delubac, Smartbroker+, and Luzerner Kantonalbank, with ongoing discussions with Tier 1 and Tier 2 banks in Europe and Turkey. The funding will also support Wyden’s new cloud-native product, Wyden Infinity, designed to automate the digital asset trade lifecycle.

Wyden was ranked among the TOP 100 Scale-ups from 2020 to 2023 and the TOP 100 Swiss Startups in 2019 and participated in Venture Leaders Fintech in 2017.

"Looking back, we've come a long way since we participated in the Venture Leaders Fintech program in NYC in 2017, which helped us get started and opened the doors to large players like PostFinance, who have now participated in our Series B. This makes me extremely proud," stated Andy Flury, founder and CEO of Wyden.