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Hardware Wallet Maker Ledger Nets $75 Million in Series B Funding

Ledger, the maker of hardware cryptocurrency wallets, has raised $75 million in Series B funding.

Jan 18, 2018 at 10:45 a.m. UTC
Updated Sep 13, 2021 at 7:23 a.m. UTC

Ledger, the France-based maker of hardware cryptocurrency wallets, has raised $75 million in Series B funding.

According to an announcement today, the new round was led by the U.K.-headquartered investor Draper Esprit, and also included Draper Venture Network, FirstMark Capital, Cathay Innovation, and Korelya Capital. Existing investors such as CapHorn Invest, GDTRE and Digital Currency Group also participated in the round.

Ledger said it plans to use the new cash primarily to scale its business amid the growth in the popularity of cryptocurrencies.

Eric Larcheveque, CEO of Ledger, commented:

"These funds will be used to keep investing significantly in R&D while scaling our operations and deploying our teams globally."

In the release, the company also said that it is developing a new storage solution for managing crypto assets, named the Ledger Vault. The product will be aimed at institutional investors such as banks and hedge funds.

Launched in 2014, Ledger offers a range of hardware wallets for storing cryptocurrency private keys. The new funding comes almost a year after the firm closed a $7 million Series A round in March 2017.

Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Ledger.

Ledger wallet image via CoinDesk archives

DISCLOSURE

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.

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