Ledger Attracts $380M in Series C Raise

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Ledger, a popular hardware wallet maker, has just announced it has completed a Series C fundraising in which it has attracted $380 million, The Block has reported.

According to the company, it has received funds from Tekne Capital, Uphold Ventures, Felix Capital, Inherent, Financière Agache (Groupe Arnault) and iAngels Technologies. However, the funding round has been led by digital assets fund 10T Fund.

After the funding round, the valuation of the company has increased to $1.5B.

Pascal Gauthier, chairman and CEO of Ledger, said:

“It’s a $1.5 billion valuation that we’ve reached through this round, but the reality is that our real target is a $100 billion valuation, and the reason why we think it’s going to be a $100 billion valuation is because the market’s going to be really huge. Comparing bitcoin to gold is fun, but this market is going to be the whole value in the world going onto blockchain at one point, the whole value in the world being tokenized… Ledger is ideally and uniquely positioned to be that secure gateway to Web3.”

Ledger has said the funds it has raised will be spent on product innovation, which includes, among other things, offering new transactional services (DeFi solutions) through Ledger Live, upgrading its operating system as well as expanding to other countries.