# Tesseract Group

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/tesseract-group

- Industry: Financial Services
- Headquarters: Helsinki, Finland
- Website: www.tesseractinvestment.com
- Total disclosed funding: $25M
- Latest round: Series A (Jun 21, 2021)
- Investors on record: 11

## About

Tesseract Group Oy, headquartered in Helsinki, Finland, specializes in digital asset lending solutions, empowering institutions and individuals to achieve institutional-grade yield on digital assets through innovative financial platforms.Tesseract Group Oy focuses on digital asset lending, allowing clients to access yield on cryptocurrencies. Founded in 2017 in Helsinki, Finland, by Ilkka Salo and Yichen Wu, the company has undergone strategic pivots to enhance its service offerings. Tesseract raised USD 25.00 mn in Series A funding on June 21, 2021, led by Augmentum, with participation from other notable investors including BlackFin Capital Partners and Coinbase Ventures. The total amount raised by the company stands at USD 25.00 mn.Tesseract specializes in digital asset lending, providing innovative financial solutions through its proprietary Earn platform, which enables institutions and private individuals to access institutional-grade yield on digital assets. The platform supports lending and DeFi yield opportunities across a diverse range of cryptocurrencies, offering risk-adjusted yield powered by advanced technological infrastructure. Tesseract's services are designed to enhance transparency and risk management, addressing the needs of customers who seek reliable and secure methods to generate income from their digital assets. The company primarily serves a global clientele, including institutions and custodial firms, across multiple markets such as North America, Europe, and Asia.In the most recent year, 2022, Tesseract generated revenue amounting to USD 16.47 mn, with an EBITDA of USD -15.48 mn. The company's revenue stems from its lending and yield generation services, structured primarily as a business-to-business model, serving institutional investors and custodial companies through its Earn platform.Following the recent funding round on June 21, 2021, Tesseract Group Oy plans to utilize the USD 25.00 mn raised to further develop its institutional offerings and enhance its cross-trading venue margin lending platform. The company aims to expand into new markets, with specific targets in North America and Asia by the end of 2023. Additionally, Tesseract will focus on recruiting new talent to foster existing partnerships and spur innovation for new financial products, ensuring a robust growth strategy for the upcoming years.

## Funding rounds

- Series A, Jun 21, 2021, $25M — Sapphire Ventures, Jabre Capital Partners, DN Capital, BlackFin Capital Partners, Augmentum, Concentric, Icebreaker, Coinbase Ventures, LeadBlock Partners, Wintermute Trading Ltd, Woorton

## Investors

- Sapphire Ventures (https://capitalatlas.ai/funds/sapphire-ventures) — Series A
- Jabre Capital Partners — Series A
- DN Capital (https://capitalatlas.ai/funds/dn-capital) — Series A
- BlackFin Capital Partners (https://capitalatlas.ai/funds/blackfin-capital-partners) — Series A
- Augmentum (https://capitalatlas.ai/funds/augmentum) — Series A
- Concentric (https://capitalatlas.ai/funds/concentric) — Series A
- Icebreaker (https://capitalatlas.ai/funds/icebreaker) — Series A
- Coinbase Ventures (https://capitalatlas.ai/funds/coinbase-ventures) — Series A
- LeadBlock Partners (https://capitalatlas.ai/funds/leadblock-partners) — Series A
- Wintermute Trading Ltd — Series A
- Woorton (https://capitalatlas.ai/funds/woorton) — Series A