Ledger, the Paris-based maker of crypto hardware wallets, has completed a $ 380 million Series C fundraiser that valued the startup at more than $ 1.5 billion.
10T Fund, a digital asset fund founded by renowned macro investor Dan Tapiero, led the increase. Tapiero’s $ 200 million fund was up Established earlier this year.
10T Fund invested alongside existing investors and new financiers including Tekne Capital, Uphold Ventures, Felix Capital, Inherent, Financière Agache (Groupe Arnault) and iAngels Technologies.
“We got a valuation of $ 1.5 billion this round, but the reality is that our ultimate goal of a valuation of $ 100 billion is really huge,” said Pascal Gauthier, Chairman and CEO of Ledger. across from The Block. “Comparing Bitcoin to Gold is fun, but this market will be all of the world’s worth going onto the blockchain at some point, all of the world’s worth being tokenized … Ledger is ideally and uniquely positioned to be that secure gateway to the Web3 . “.”
Proceeds from the Series C procurement will be used for product innovation, with plans to give users access to new transaction services such as Decentralized Finance (DeFi) solutions through Ledger Live, the company’s crypto management app. Ledger also plans to expand its corporate capacity and invest in upgrading its operating system.
Further international expansion is also pending. Gauthier said Ledger, a global service, is investing in “internationalization and localization” – with a focus on tailoring the service to non-English speaking countries.
Ledger currently has 360 employees, and another 300 are to be hired.
The company closed its Series B round – A $ 75 million raise led by Draper Esprit, the London-based venture capital firm, in January 2018. an additional $ 2.9 million of South Korean technology giant Samsung in April of the following year. Other supporters of the company include FirstMark Capital, Cathay Innovation, Korelya Capital, CapHorn Investment and Digital Currency Group.
Ledger has grown into one of the world’s most popular manufacturers of hardware wallets that allow crypto holders to store their private keys – which control access to funds – on devices that are isolated from internet-connected devices such as cell phones and laptops are. The company also offers tools that customers can use to buy, sell, and deploy crypto through its mobile app.
In a press release, the company said it backs an estimated 15% of all cryptocurrencies worldwide and has sold more than 3 million hardware wallets in 190 countries.
Since the summer of last year, Ledger users have been plagued by phishing attacks suffered a break where customer contact and order information has been compromised.
In December 2020 a database with the personal data of more than a quarter of a million Ledger customers were posted online – for which a “rogue member” of Shopify’s customer support team was blamed. In January 2021, ledger spend a bitcoin bounty valued at approximately $ 350,000 for information about the people behind the data breaches.
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