Ledger’s Successful Fundraising: A New Era for Crypto Security
In a dazzling display of investor confidence, hardware wallet provider Ledger has secured €100 million ($109 million) in a Series C funding round extension, bringing its valuation to a robust €1.3 billion ($1.4 billion). This funding marks a pivotal moment for the company, reported by Bloomberg on March 30, as it navigates through turbulent crypto waters.
Future Growth Plans: Expanding Horizons
The capital from this funding bonanza isn’t just resting in the vault; Ledger plans to spread its wings by expanding its distribution network and ramping up production. This is especially timely with a second funding round anticipated in April, followed by a third later on. All of this is spurred by “high investor interest.”
The Investor Lineup: Power Players Join the Fray
New investors joining the Ledger family include VaynerFund, Cité Gestion SPV, True Global Ventures, and Digital Finance Group. Adding to this impressive roster are earlier backers such as Morgan Creek and Cathay Innovation, creating a powerhouse of support for Ledger.
Self-Custody Gains Attention: Lessons from the Unraveling Market
In a candid chat with Cointelegraph during Paris Blockchain Week, Ledger’s CEO Pascal Gauthier pointed out that recent collapses in crypto exchanges and banks have shone a spotlight on the importance of crypto self-custody. As he aptly stated, “Whenever the market gets stressed… they rush to crypto and to Ledger.” One could say that in this chaotic landscape, self-custody is the new black.
Sales Surge: Ledger’s Response to Market Crisis
Sometimes it takes a downfall to bring about a rise. Following the infamous FTX collapse, Ledger reported its best sales month in November. The revenue from Ledger Live’s buy-and-sell crypto app skyrocketed by 200% in just a year. Meanwhile, competitors like Trezor are also feeling the love, with a reported 300% increase in sales. Talk about keeping your friends close and your hardware wallets closer.
Future Innovations: Aiming for the Next Big Thing
Ledger isn’t satisfied resting on its laurels. Recently, they’ve enlisted Tony Fadell, the mastermind behind the iPhone, to help design the next version of their hardware wallet. With this kind of star power, who knows what magic is set to unfold?
The Self-Custody Manifesto: A Right Not to Be Overlooked
Industry titans are rallying around the cause of self-custody. Binance CEO Changpeng Zhao declared it a “fundamental human right,” encouraging users to start small and educate themselves. So if you’re considering taking the plunge into crypto self-custody, remember: it’s your right, just make sure to do it right!
