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Crypto hardware wallet maker Ledger bags $380M funding, London VC Draper Esprit and Felix Capital also participate

Image credits: Ledger

Ledger claims to be a leader in security and infrastructure solutions for cryptocurrencies and blockchain applications.

Now, London-based Draper Esprit, a leading venture capital firm investing in and developing high-growth technology businesses, has participated in a $380 (nearly £270 million) Series C funding round in the French crypto startup, which values the business at over $1.5 billion (nearly £1 billion).

The round was led by 10T Holdings, with strong support from existing investors including Cathay Innovation, Draper Associates, Draper Dragon, DCG, Korelya Capital, and Wicklow Capital and other newcomers including Tekne Capital, Uphold Ventures, Inherent, Financière Agache (Groupe Arnault), and iAngels Technologies. Further, London-based Felix Capital also participated in the round. The latest financing also confers the status of unicorn for the crypto pioneer in Europe.

Ambitious plans

With this Series C investment round, Pairs-based Ledger will be able to extend its leading position in cryptocurrency security and services to become the secure gateway to the entire digital asset ecosystem. The investment will allow Ledger to realise its ambitious plans by further innovating its hardware products, adding new transactional services to Ledger Live such as Decentralised Finance solutions, and significantly expanding its enterprise capabilities.

Furthermore, Ledger will use its new funding to invest in its proprietary Operating System, which runs across all of Ledger’s products and services, so that it can support the seamless integration of new third-party services.

Pascal Gauthier, Ledger CEO, said: “This Series C announcement marks the transition of Ledger from the leading digital asset security company to becoming the secure gateway to the entire digital asset ecosystem. This industry is fast becoming mainstream and reshaping the entire financial sector and beyond. Our products are designed to give users maximum control over their digital assets and provide unparalleled protection against cyber-attacks. We are well-positioned to become the secure gateway to the digital asset world with the potential to integrate our services into nearly every feature of the digital asset ecosystem.”

Will Turner, Managing Partner at Draper Esprit, added: “We met Pascal and the team at Ledger many years ago and were excited to lead their Series B round in 2018, and they’ve continued to build impressively since. We’re delighted to continue our support of Ledger with this impressive round. Ledger is at the forefront of a huge growth trend in digital assets and there remains incredible potential for this business in what is a rapidly growing market. Ledger is also a great example of how French tech can take on the world and we see many great companies following their lead.”

Access to digital assets made secure!

Founded in 204 by Eric Larchevêque, Nicolas Bacca, Joel Pobeda, and Thomas France, Ledger develops security and infrastructure solutions for cryptocurrencies and blockchain applications for both individuals and companies. It allows investors to access the world of digital assets securely.

Ledger’s products include the world’s most popular hardware wallet for cryptocurrency assets, the most user-friendly and secure cryptocurrency management platform, Ledger Live, and the best digital assets security solution for financial institutions, Ledger Enterprise Solutions. The startup launched Nano X, a cryptocurrency hardware wallet, which is Bluetooth-enabled and is accessible from smartphones and controlled in a seamless way via the Ledger Live Mobile App.

Already, the company secured around 15% of all cryptocurrency assets globally and is uniquely positioned to capitalise on the growth of digital assets as they become increasingly mainstream. It has sold more than 3 million hardware wallets in 190 countries to date and has more than 1.5 million users on Ledger Live. Headquartered in Paris, with offices in New York, Singapore, London and Vierzon, Ledger has a team of over 360 professionals.