Tesseract raised $25 million in a round led by Augmentum Fintech.

Tesseract Investment, a Helsinki, Finland-based startup providing an online platform for alternative investments, announced completing a $25 million funding round.

The money was raised from investors led by Augmentum Fintech and joined by a range of other backers including BlackFin Capital Partners, Concentric, DN Capital, Jabre Capital Partners Family Office, LeadBlock Partners, Icebreaker.vc, and Sapphire Ventures.

The round included participations from others contributors such as Coinbase Ventures, Wintermute, and Woorton.

Tesseract, founded as Whalelend in 2018 and led by CEO Yichen Wu, developed a next-gen cryptocurrency investment service provided via an online platform.

The company's core products are in margin lending, OTC lending, partnerships with retail trading platforms, and decentralised finance - Tesseract’s margin lending platform improves capital efficiency for institutional clients ranging from hedge funds to market makers. Global retail trading platform partnerships allow consumer focused exchanges, custodians, fiat on-ramps, and wallet providers to gain a competitive edge and improved profitability via Tesseract’s white-label solutions.

Tesseract was previously seeded by Icebreaker, and also raised from Taaleri and Estlander & Partners.