Ledger gets $380 million in Series C funding round led by 10T Holdings

The Paris-based company Ledger has just closed a massive Series C funding round led by digital asset fund 10T Holdings, the funding round also garnered support from Cathay Innovation, Draper Esprit, Draper Associates, Draper Dragon, DCG, Korelya Capital, and Wicklow Capital and other newcomers including Tekne Capital, Uphold Ventures, Felix Capital, Inherent, Financière Agache (Groupe Arnault), and iAngels Technologies.

Other investors notably included: Tekne Capital, Uphold Ventures, Rosemoor Capital, Libertus Capital II, Felix Capital, Inherent Private Opportunities, iAngels Technologies, Ascendant, Cygni SPV, MACSF, Financière Agache, Marcy Venture Partners, Loire Centre Capital/Caisse d’Epargne Loire Centre, Alliance Entreprendre, Scott Galloway, Crédit Agricole Centre Loire, Korelya Capital, Cité Gestion, FirstMark Capital, Caphorn Invest, Global Founders Capital, Animoca Brands, Fabric Ventures, Crypto.com Capital, The Maze Group, Cardinal Capital and Warburg Serres.

The Series C raise places Ledger with an implied valuation of more than $1.5 billion, marking the company’s rapid and accelerating growth.

Speaking on this, Ledger CEO Pascal Gauthier said: “This Series C announcement marks the transition of Ledger from the leading digital asset security company to becoming the secure gateway to the entire digital asset ecosystem. This industry is fast becoming mainstream and reshaping the entire financial sector and beyond. Our products are designed to give users maximum control over their digital assets and provide unparalleled protection against cyber-attacks. We are well-positioned to become the secure gateway to the digital asset world with the potential to integrate our services into nearly every feature of the digital asset ecosystem.”

Tim Draper, Founder of Draper, said that “The Ledger brand stands for trust and freedom. They are the trusted third party that used to be a bank, but Ledger allows people the freedom to directly hold, save, control, invest or spend their digital money anywhere on the planet (or off it). I believe Ledger technology is the foundation for any crypto security strategy and custody.”

Founded in 2014, Ledger’s previous raises came by way of a $7 million Series A funding round in 2017 and a further $75 million via a Series B in 2018.

Headquartered in Paris, with offices in New York, Singapore, London and Vierzon, Ledger has a team of over 360 professionals. Ledger has sold more than 3 million hardware wallets in 190 countries to date, and has more than 1.5 million monthly users on Ledger Live. The hardware wallet maker saw a 500% surge in revenues in the first quarter of 2021.

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