The French unicorn Ledger, valued at$ 1.5 billion, is working hard and intends to add new products to its portfolio.
Ledger, flagship of French tech
This first quarter was extremely lucrative for the crypto security company, known worldwide for its Ledger Nano S and Nano X wallets., Ledger completed a$ 380M Series C capital raising to $ 1.5 bn.
We find in the investors a large number of those already present during the previous fundraising (Cathay Innovation, Draper Dragon,…) but also new heads such as the Arnault Group with the Financière Agache.
The CEO of Ledger Pascal Gauthier clarified that the Series C investment would transform the business from a crypto security firm into a secure gateway to the digital asset ecosystem : “This industry is becoming massively adopted and disrupting the codes of the financial sector “ he added.
This huge investment will be used to develop new products and add a decentralized finance solution to the company’s wallet software, Ledger Live. Solutions to strengthen Ledger’s digital asset holding solutions will also be funded by Series C.
The beginning of cryptoadoption ?
Recent news from El Salvador and central banks interested in digital currency solutions prove that the digitalization of digital assets will be the challenge of tomorrow. Ledger understood this well and expects the secured assets on its solutions to increase in volume. The company’s medium-term goal will be to manage this growing demand and subsequently offer solutions to support NFT, land and any other form of resources based on blockchain technologies.
The bullmarket initiated at the beginning of the year allowed Ledger to increase its revenues by 500% in the first quarter. With these new resources, the company hired former employees ofEtoro and Opera and intends to continue to strengthen its teams.
Light shadow on the board, Ledger was the target of a hack in December 2020 leaking the personal information of 270,000 customers of the company and nearly a million email addresses of subscribers to their newsletter; the tile for a company specializing in digital security. Series C will allow the company to improve its defenses and prevent such intrusions from happening again.
France, often criticized for its passivity in the crypto universe, remains proudly represented internationally by Ledger, whose solutions are massively adopted. We are now waiting for the announcement of a French exchange and stablecoins euros to catapult France among the leaders in blockchain technology.
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