Hardware Wallet Maker Ledger in Talks to Raise Additional $100M: Report

The fresh funding will give the firm a higher valuation than the $1.5 billion it commanded in June 2021.

AccessTimeIconAug 1, 2022 at 9:46 a.m. UTC
Updated May 11, 2023 at 6:55 p.m. UTC

Hardware wallet maker Ledger is seeking an additional $100 million following its mammoth $380 million Series C funding round last year, Bloomberg reported on Monday.

  • The fresh funding will give the firm a higher valuation than the $1.5 billion it commanded in June 2021, according to the report citing people familiar with the talks.
  • Ledger's plans suggest that despite the onset of depressed conditions in the crypto market in recent months, there are areas of the industry for which the immediate outlook looks positive, such as in hardware wallets.
  • With crypto firms such as exchanges beset by liquidity problems causing them to take steps such as suspending customer withdrawals, more users could be looking to store their crypto themselves on a hardware wallet. "Not your keys, not your coins," is a common warning fired at those who keep their crypto on an exchange.
  • Ledger told CoinDesk it has 5 million customers.
  • The firm did not immediately respond to CoinDesk's request for comment.

UPDATE (13:28 UTC Aug. 1 2022): Updates the number of Ledger customers.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Jamie Crawley is a CoinDesk news reporter based in London.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.