Ledger Completes $380 Million Series C Fundraising
Paris — June 10, 2021 —Ledger, the leading secure gateway for digital assets, today announced a $380 million Series C round, 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.
The Series C fundraising means that Ledger has an implied valuation of more than $1.5 billion, marking its rapid and accelerating growth.
Tim Draper, Founder of Draper Associates, said that “The Ledger brand stands for trust and freedom. They are the trusted third party that used to be a bank, but Ledger allows people the freedom to directly hold, save, control, invest or spend their digital money anywhere on the planet (or off it). I believe Ledger technology is the foundation for any crypto security strategy and custody.”
Ledger’s products include a popular hardware wallet for cryptocurrency assets, a cryptocurrency management platform, Ledger Live, and a digital assets security solution for financial institutions, Ledger Enterprise Solutions.
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. These plans would mean that Ledger’s products and services would underpin the activity of retail investors, financial institutions, and other industries investing in and managing digital assets.
Ledger is set to realize these ambitious plans by further innovating its hardware products, giving access to new transactional services via Ledger Live such as Decentralized Finance solutions, and significantly expanding its enterprise capabilities. In addition, Ledger will use its new funding to invest in its proprietary Operating System which runs across all of Ledger’s products and services, so that it can support the seamless integration of new third-party services. These ambitious plans will be executed globally as Ledger continues to expand its operational and geographic footprint to match the global nature of the digital asset market.
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.
“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.
“Our products are designed to give users maximum control over their digital assets and provide unparalleled protection against cyber-attacks. We are well-positioned to become the secure gateway to the digital asset world with the potential to integrate our services into nearly every feature of the digital asset ecosystem.”