Hardware wallet maker Ledger has announced the closure of its Series C funding round, which raised $ 380 million. The company’s total capitalization exceeded $ 1.5 billion.
The leader of the funding round was the 10T Fund, which invests in companies working with digital assets. The fund was founded this year by renowned investor Dan Tapiero. Tekne Capital, Uphold Ventures, Felix Capital, Inherent, Financière Agache (Groupe Arnault) and iAngels Technologies also participated in the financing.
“We reached a capitalization of $ 1.5 billion during this round, but our goal is actually a capitalization of $ 100 billion. And we are confident that we will achieve this goal, because the digital asset market is going to be just gigantic. It’s interesting to compare Bitcoin to gold, but someday literally any value in the world will be tokenized and posted on the blockchain. Ledger is ideally suited to be a gateway to this future, ”said Pascal Gauthier, Chairman and CEO of Ledger.
The funds raised during the funding round will go towards developing new products and features for existing wallets. For example, it is planned to provide access to the decentralized finance (DeFi) industry through the Ledger Live platform, as well as expand the list of services for corporate users.
In addition, it is planned to recruit new employees for development. If Ledger currently employs 360 people, the company will soon hire another 300 employees. To date, the firm has sold over 3 million hardware wallets in 190 countries around the world. According to Ledger representatives, the company’s solutions store up to 15% of the total amount of all cryptocurrencies.
Recall that last year, Ledger leaked data to more than 270,000 users.
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