French SaaS startup, Ledger secures USD 380 Million in Series C funding round which was led by 10T Holdings. After this fundraise the startup is listed in the unicorn list as its valuation raised to USD 1.3 Billion.
The round also saw participation from Draper Associates, Draper Esprit, Draper Dragon, Wicklow Capital, and Cathay innovation. Some new investors also joined the round such as Inherent, iAngels technologies, Uphold Ventures, Tekne Capital, and Financière Agache.
The company stated that it will use this fundraise in different ways like:
- Further develop the company’s hardware products, including all the new products in the pipeline.
- To decentralize finance solutions by adding transactional services.
- Strengthen the company’s capacity to support businesses through Enterprise Solutions.
- To start integrating with third-party services through the ongoing development of the OS.
About Ledger –
Ledger was initiated by Eric Larchevêque, Joel Pobeda, and Nicolas Bacca, in the year 2014. The startup provides infrastructure and security solutions to digital assets which are critical for institutional and consumer investors.
The company introduced Ledger Nano S in the beginning. The most recent product Nano X is used to send and receive assets on your smartphone via Bluetooth. It also provides enterprises with the solution that they can add cryptocurrencies to their balance sheet.
Ledger has sold more than 3 million hardware wallet solutions. The company’s software solution to manage crypto assets, Ledger Live has a total number of 1.5 Million users every month. The company claims that it currently manages 15% of total cryptocurrency assets all over the world.
On the future plans of the company, Pascal Gauthier, Chairman and CEO of Ledger told that –
“We expect to see the ecosystem diversify beyond cryptocurrencies to include NFTs, real estate, and other forms of value that can be shifted onto the blockchain.”
“As we look to the future, we see ourselves as the secure gateway to this growing ecosystem. Our goal is to empower users to buy, sell, swap, borrow, and lend digital assets through the Ledger Live platform, which offers best-in-class security and a seamless user experience when combined with our hardware.”
“The results of our Series C round bring us one step closer to this vision. We are excited to watch our global community grow and help people around the world begin their investment journey with confidence that their digital assets are secure.”
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