Ledger Announces it is Expanding its Series C Funding Round

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Ledger raised $380 million in a Series C funding round in June 2021. Upon closing the first round, the company had raised “most” of the €100 million (~$109 million) it had aimed for.

Ledger is now planning a second round of fundraising in mid-April and a possible third phase due to the high interest of investors. This comes after the collapse of the FTX exchange in November 2022, resulting in record sales of hardware wallets from Ledger and Trezor.

Ledger CEO Pascal Gauthier has said:

“People suddenly discovered: “Wow, leaving the cryptocurrency on the exchange is really dangerous.”

He believes that 2023 will be even better for his company as customers can’t even trust Swiss banks with their money.

The expansion of the Series C funding round is being raised at a previous valuation of €1.3 billion.