Crypto Wallet Maker Ledger Raises $109 Million in Latest Funding Round – Is the Bull Market Back?
Major crypto wallet maker Ledger announced its Series C funding round, raising $108.8 million.
Chairman and CEO of the Paris-based company, Pascal Gauthier, announced the round on Thursday, saying that both the long-term investors as well as some new ones participated in the round.
Gauthier said that the funds will be used to "accelerate our mission to bring a new generation of secure consumer devices" to millions of users who are "exploring critical digital assets and blockchain-enabled technology."
The CEO did not name the participants nor say how much was raised. However, per TechCrunch, the company raised €100 million, or $108.8 million.
New investors include True Global Ventures, Digital Finance Group, and VaynerFund, while existing investors include 10T, Cité Gestion Private Bank, Cap Horn, Morgan Creek, Cathay Innovation, Korelya Capital, and Molten Ventures, said the report.
Bloomberg reported that Goldman Sachs Bank Europe SE acted as the placement agent, with Jones Day as legal advisors.
Ledger raised $387.4 million in 2021, and it is valued at $1.42 billion.
According to Bloomberg, citing the company, Ledger will have a second close for the funding round in mid-April and a third will likely follow due to high investor interest.
The latest round comes despite the current difficult funding environment, prompted by the regulatory and legal issues the industry is facing. However, the collapse of several major centralized companies prompted many digital asset owners to seek safety in cold wallets.
"Suddenly people were like 'wow, to leave crypto on an exchange is actually dangerous,'" Gauthier said in an interview, as quoted by Bloomberg. "And 2023 is even better for us because now you can’t even leave money at a Swiss
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