Hardware wallet provider Ledger has raised €100 million ($109 million) in an expanded Series C funding round rated at €1.3 billion ($1.4 billion), in line with the funding. The last time was in June 2021, as reported by Bloomberg on 30 March. This fundraising is the first of three rounds of investment.
According to the report, A second funding is scheduled for April. This will be followed by a third coming later due to “high investor interest”, with funds being used to expand the company’s distribution network. Including increasing production and develop new products
Ledger’s new investors include VaynerFund, Cité Gestion SPV, True Global Ventures and Digital Finance Group, while previous investors include Morgan Creek, Cathay Innovation, Draper Dragon, Cap Horn and others.
Ledger CEO Pascal Gauthier noted that The collapse of crypto exchanges and banks over the past few months. raised the level of receivingknowRegarding the use of self-custody crypto wallets, “whenever the market is tense and whenever people are concerned about their savings, you know, they rush to crypto and Ledger,” Gauthier said.
Ledger had the best sales in November. Following the fall of FTX, revenue from Ledger Live has grown 200% over the past 12 months, while another wallet provider Trezor also benefited from FTX’s failure with a 300% increase in sales revenue.
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