Ledger Secures 100 Million Euros in Funding to Expand Hardware Wallet Market Reach
It is reported that Ledger, a hardware wallet, completed a financing of 100 million euros ($109 million), with a financing valuation of 1.3 billion euros. New investors, such as Tr
It is reported that Ledger, a hardware wallet, completed a financing of 100 million euros ($109 million), with a financing valuation of 1.3 billion euros. New investors, such as True Global Ventures, Cit é Geston SPV, Digital Finance Group, and Vayner Fund, as well as existing investors, such as 10T, Cap Horn, Morgan Creek, and Cathay Innovation, participated in the financing, with Goldman Sachs Bank Europe SE serving as the exclusive placement agent, and Jones Day serving as legal counsel.
Hardware wallet Ledger completed € 100 million financing with a valuation of € 1.3 billion
Ledger, a company that builds hardware wallets, has recently announced that it has secured 100 million euros ($109 million) in financing. With this new investment, the company aims to expand its market reach and continue to develop new products and services for its customers.
Background:
Ledger is a leading hardware wallet manufacturer that was established in 2014 by Eric Larchevêque and Joel Pobeda. Based in France, the company offers a range of hardware wallets that enable users to securely store and manage their cryptocurrency assets offline. The platform is designed to protect the user’s private keys from cyber-attacks, thereby ensuring that their funds are kept safe and secure.
Financing Details:
Ledger recently announced that it had secured 100 million euros in funding through a financing valuation of 1.3 billion euros. The funding round was led by the investment firm, 10T, and saw participation from both new and existing investors. New investors included True Global Ventures, Cit é Geston SPV, Digital Finance Group, and Vayner Fund, while existing investors included Cap Horn, Morgan Creek, and Cathay Innovation.
Furthermore, Goldman Sachs Bank Europe SE served as the exclusive placement agent for the transaction, while Jones Day provided legal counsel.
Expansion Plans:
Since its inception, Ledger has sold over 1.5 million hardware wallets, and it has quickly become one of the most popular platforms for securing cryptocurrency assets. With the new funding, the company aims to expand its market reach and develop new products and services to meet the growing demand for secure cryptocurrency storage.
The company intends to use the funds to hire more staff members and to expand its operations in Asia and the US. Additionally, Ledger plans to introduce new products that will enable its customers to access new crypto assets, as well as enhance its features.
Conclusion:
Overall, the new funding is a significant development for Ledger, and it will enable the company to expand its market reach and offer more innovative products and services to customers. With the increasing importance of secure cryptocurrency storage, the demand for hardware wallets is only expected to grow, and Ledger is well-positioned to capitalize on this opportunity.
FAQs:
1. What is a hardware wallet?
A hardware wallet is a physical device that stores a user’s private keys offline, thereby protecting their cryptocurrency assets from cyber-attacks.
2. What is the significance of Ledger’s new funding?
The new funding will enable Ledger to expand its market reach and develop new products and services to meet the growing demand for secure cryptocurrency storage.
3. How does Ledger protect users’ cryptocurrency assets?
By storing private keys offline, Ledger can protect users’ cryptocurrency assets from cyber-attacks and other types of security threats.
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