Crypto wallet provider Ledger closes $380mn in series C fundraising

June 10, 2021

Ledger, Paris-based provider of crypto hardware wallets, announced it has closed a $380 million Series C round.

The Series C fundraising means that Ledger has an implied valuation of more than $1.5 billion, according to a statement.

Ledger is the market-leading secure gateway for investors looking to access the world of digital assets securely. Ledger’s products include the world’s most popular hardware wallet for cryptocurrency assets, the most user friendly and secure cryptocurrency management platform, Ledger Live, and the best digital assets security solution for financial institutions, Ledger Enterprise Solutions.

Ledger already secures an estimated 15% of all cryptocurrency assets globally and is uniquely positioned to capitalize on the growth of digital assets as they become increasingly mainstream.

Ledger has sold more than 3 million hardware wallets in 190 countries to date, and has more than 1.5 million monthly users on Ledger Live.

With this Series C investment round, Ledger, which is rapidly growing and profitable, will be able to extend its leading position in cryptocurrency security and services to become the secure gateway to the entire digital asset ecosystem.

The funding round was led by 10T Holdings, with strong support from existing investors including Cathay Innovation, Draper Esprit, Draper Associates, Draper Dragon, DCG, Korelya Capital, and Wicklow Capital and other newcomers including Tekne Capital, Uphold Ventures, Felix Capital, Inherent, Financière Agache (Groupe Arnault), and iAngels Technologies.

Ledger’s mission is to become the easiest way for digital asset investors to start their journey and confidently buy, sell, swap, borrow, and lend digital assets through the Ledger Live platform, which when combined with Ledger’s hardware, provides best-in-class security for users in the digital asset environment, the statement said.

“This Series C announcement marks the transition of Ledger from the leading digital asset security company to becoming the secure gateway to the entire digital asset ecosystem. This industry is fast becoming mainstream and reshaping the entire financial sector and beyond,” said Ledger’s CEO Pascal Gauthier.

Ledger’s financial profile has evolved with its operations, with consumer transaction revenue from Ledger Live, and enterprise revenue from Ledger Vault, increasingly diversifying revenue beyond the core consumer hardware revenue.

The funding round was led by 10T Holdings, with strong support from existing investors including Cathay Innovation, Draper Esprit, Draper Associates, Draper Dragon, DCG, Korelya Capital, and Wicklow Capital and other newcomers including Tekne Capital, Uphold Ventures, Felix Capital, Inherent, Financière Agache (Groupe Arnault), and iAngels Technologies.

Image: Wikimedia commons

 

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