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January 18, 2018

Cryptocurrency wallet provider Ledger raises fresh funding of $75m

Ledger, a French cryptocurrency wallet and blockchain security outfit founded in 2014, has raised $75m in a Series B funding round led by Draper Esprit.

The firm’s existing backers CapHorn Invest, GDTRE and Digital Currency Group also participated in the funding round.

Apart from them, Draper Venture Network funds, FirstMark Capital, Cathay Innovation, and Korelya Capital also joined the funding round. Xange, a Series A investor, remains at the capital.

Draper Esprit CEO Simon Cook will join Ledger executive board along with Korelya Capital’s Fleur Pellerin and Xange’s Cyril Bertrand.

“Blockchain, as evidenced by crypto assets, is a truly revolutionary technology. Security will be paramount to its success and we believe that Ledger has built the world’s best security platform to manage private keys for all blockchain and crypto asset applications,” Cook noted.

Ledger CEO Eric Larcheveque said: “We initially designed our Ledger hardware wallet as an enabler for the blockchain revolution. Three years later and with this Series B, we are reaching a significant milestone in our path to build a technological giant in the promising space of cryptocurrencies.

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

Ledger operates in San Francisco, Paris and Vierzon and currently has a workforce of 82.

The company has already sold more than a million cryptocurrency hardware wallets across 165 countries. It is now planning to introduce a new solution called the Ledger Vault, which will aid banks, hedge funds and family offices in management of crypto assets.

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