Wallet provider Ledger raises $380M to welcome DeFi ecosystem
Wallet provider Ledger raises $380M to welcome DeFi ecosystem
At present valued at $1.5 billion, Ledger aims add together new products to its hardware and software wallet portfolio.
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Following a dramatic increase in its revenues in the beginning quarter, the cryptocurrency security and infrastructure company Ledger completed a new fundraising round led by 10T Holdings.
Known for its Ledger Nano S and Nano X hardware wallets, Ledger appear the completion of a $380-1000000 Serial C fundraising round, which gave the visitor a valuation of $1.5 billion.
Ledger'southward Serial B round investors Cathay Innovation, Draper Associates, Draper Dragon, Draper Esprit, DCG and Wicklow Capital attended the new fundraising. Tekne Capital letter, Uphold Ventures, Felix Capital, Inherent, Financiere Agache (Groupe Arnault) and iAngels Technologies were the new investors.
Ledger CEO Pascal Gauthier said the Series C investment round would transform Ledger from a digital asset security company to a secure gateway to the unabridged digital asset ecosystem. "This manufacture is fast becoming mainstream and reshaping the entire financial sector and beyond," he added.
Ledger volition apply the $380 million for developing new products and adding decentralized finance solutions to Ledger Live, the visitor'south wallet software. The company is besides looking to strengthen its Ledger Enterprise Solutions, a cloud-based digital nugget custody service.
As digital avails are becoming more than mainstream, Ledger expects the assets held on its products will grow in book, the announcement reads. The company wants to position itself as a secure gateway to the ecosystem as it diversifies to include nonfungible tokens, real estate and other blockchain-based forms of value.
Cheers to the bull market before this yr, Ledger saw a 500% surge in revenues in the first quarter of 2021. The visitor hired one-time eToro and Opera leads, and it is still looking to expand its workforce.
Ledger experienced a major data alienation in December 2020 that caused a leak of over 270,000 Ledger customers' personal information. According to the written report, the leak besides included 1 one thousand thousand emails of Ledger wallet owners and customers that were signed up to the visitor's newsletter service.
Source: https://cointelegraph.com/news/wallet-provider-ledger-raises-380m-to-welcome-defi-ecosystem
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