Ledger Raises $109M in Funding Round
• Ledger, a hardware wallet maker, has raised 100 million euros ($109 million) in its latest funding round at a valuation of 1.3 billion euros ($1.4 billion).
• The company was valued at the same amount during its last funding round in June 2021.
• The raise follows the collapse of FTX and the CFTC’s lawsuit against Binance, offering digital-asset owners secure storage for their tokens.
Ledger is a French cryptocurrency and security company that develops hardware wallets for securely storing cryptocurrencies and other digital assets. The company was founded by Eric Larcheveque, Thomas France, Joel Pobeda and Nicolas Bacca in 2014 and is headquartered in Paris, France. Ledger’s products are designed to provide users with secure access to their cryptocurrencies and digital assets stored on the blockchain.
Funding Round Details
Ledger announced that it had raised most of a 100 million euros ($109 million) funding round at a valuation of 1.3 billion euros ($1.4 billion). This new raise followed media outlets reporting on a potential new round back in August 2020. Ledger’s CEO Pascal Gauthier said that despite trying times for the crypto industry — including the collapse of significant crypto exchanges and shifting macroeconomic conditions — Ledger had remained resilient throughout the year as its services continued to grow in adoption.
Secure Storage for Digital Assets
The recent collapse of centralized crypto exchange FTX as well as the U.S Commodity Futures Trading Commission (CFTC)’s lawsuit against competitor Binance has made many digital-asset owners wary of leaving their tokens with third parties or exchanges. Ledgers hardware wallets allow users to store their assets securely without having to rely on third parties or exchanges for safekeeping them.
Ledgers latest funding round highlights how resilient the company is despite tough times within the crypto industry due to events such as FTX collapsing and CFTC filing lawsuits against major players like Binance; showing that there is still strong demand for secure storage solutions such as those provided by Ledger.