Major French manufacturer of crypto hardware wallet stated it has “ambitious goals” in DeFi, and other new services. It raised USD 380m to buy the company, which is valued at more than USD 1.5bn.
The Series C funding
“The Series C funding will allow Ledger, which will further innovate its hardware products, give access to new transactional service via LedgerLive such as Decentralized Finance solutions and significantly expand its enterprise capabilities,” said the company today. It will also invest in its proprietary operating system, which will allow integration of new third-party services.
The most recent Series C round was led and supported by Dan Tapiero’s 10T Holdings with support from existing investors such as Cathay Innovation and Draper Esprit.
According to the company, it holds 15% of all global cryptocurrency assets. Ledger stated that it has sold over 3m hardware wallets to date in 190 countries and has 1.5m monthly users for its app, Ledger Live.
“This Series C announcement marks Ledger’s transition from being the most trusted digital asset security company to becoming the secure portal to the entire digital assets ecosystem. “This industry is rapidly becoming mainstream and reshaping all financial sectors and beyond,” Pascal Gauthier, Ledger CEO, was quoted as saying in the announcement.
The company raised USD 8.3m through a Series A round of financing in March 2017, and USD 75m through a Series B round of financing in January 2018.
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