By
Tolu Ajiboye
February 23rd, 2024
Launched in 2014 after the Mt.Gox multi-billion Bitcoin hack, Ledger has grown to over 6 million hardware wallets sold globally.
Ledger, a French startup focused on developing hardware crypto wallets, has announced the completion of a series C funding round with €100 million at a current valuation of approximately €1.3 billion. The Paris-based startup enjoyed the support of prior investors and a line of new flow from True Global Ventures, Digital Finance Group and VaynerFund. Some of the existing investors that took part in the Series C funding round include 10T, Cité Gestion Private Bank, Cap Horn, Morgan Creek, Cathay Innovation, Korelya Capital and Molten Ventures.
With the ongoing global cryptocurrency adoption, Ledger intends to use the funds to scale its hardware wallet productions. Moreover, the FTX and Alameda Research implosion late last year has significantly increased the need for self-custody among crypto investors.
“These funds will accelerate our mission to bring a new generation of secure consumer devices to hundreds of millions exploring critical digital assets and blockchain-enabled technology,” Pascal Gauthier, Chairman and CEO of Ledger, noted.
The Ledger hardware wallets are famous for their military-grade security and ease of use among all classes of investors. Furthermore, the Ledger hardware wallet is shaped like a regular USB but has a screen to confirm transactions.
Ledger is proud to announce our Series C extension fundraising round.
We continue our mission of bringing ease-of-use and uncompromised security to your digital value.
Read what our CEO @_pgauthier has to say:https://t.co/JSHyi5jKIQ pic.twitter.com/aGi2FhOXCs
— Ledger (@Ledger) March 30, 2023
Ledger Products
Launched in 2014 after the Mt.Gox multi-billion Bitcoin hack, Ledger has grown to over 6 million hardware wallets sold globally. Moreover, Ledger has over 100 retailers in over 200 worldwide countries.
In its latest wheel invention, the company’s product includes the Ledger Stax, a hardware wallet that provides comfortable crypto and NFT trading for daily use. With over 5000 crypto assets supported, the Ledger Stax has Bluetooth compatibility, wireless charging, a touch screen, and a type C USB.
Ledger Stax, your new key to your digital value, will let you explore the Internet of Value, manage your crypto and NFTs with unprecedented ease of use and ownership, on top of our uncompromising security standards.
— Pascal Gauthier @Ledger (@_pgauthier) March 30, 2023
The company also has Ledger Nano X, which supports NFT trades and uses Bluetooth and USB type C for connectivity. Other products include Ledger Nano S plus, Ledger Nano Pod, Ledger OTG Kit, and Ledger Nano Case, among many others.
Market Outlook
Following a successful entry into global markets, Ledger raised €356 million during the 2021 crypto frenzy. Nevertheless, the comps have experienced challenges along the way. In July 2020, the company discovered a significant data breach that had personal information available on an internet marketplace. The breach of information compromised Ledger, which is most sought after by high-net-worth investors.
In addition to hardware wallet solutions, Ledger offers enterprise fully customizable infrastructure for securing digital assets for banks, hedge funds, and high-net-worth individuals.