Digital assets platform Ledger has raised €100 million in a Series C extension.
The French firm, which has sold more than six million ‘self-custody’ devices, maintains its valuation of €1.3 billion, achieved in the original €356m Series C round in 2021, despite the economic headwinds.
Listed UK VC Molten Ventures participated in the funding round alongside other existing investors including 10T, Cité Gestion Private Bank, Cap Horn, Morgan Creek, Cathay Innovation and Korelya Capital.
The extension round was also backed by new investors including True Global Ventures, Digital Finance Group and VaynerFund.
Ledger claims to have secured more than 20% of the world’s cryptocurrencies and over 30% of the world’s NFTs.
Its expansion plans include easier onboarding and user experience in the world of Bitcoin and wallet-connected apps, and building and providing further services for its users including buying, swapping, earning yield on crypto, and exploring NFTs.
The company recently announced that the demand for its Ledger Stax device, launched in December 2022, had already exceeded supply, making it the most successful product launch in the Ledger’s history.
“2022 was a standout year for Ledger, culminating in the launch of Ledger Stax at Ledger Op3n in Paris. I’m excited to share that we’re starting 2023 where we left off — doubling down on our mission to bring self-custody to everyone,” said Pascal Gauthier, chairman and CEO.
“We’re glad to see our long term investors and partners are continuing to back us after a marquee year, and we welcome the new faces who are seeing the rapid digital value and hardware revolution that is coming and jumped on board.”
Martin Davis, CEO of Molten Ventures, commented: “This latest round is testament to the strength of Ledger’s business and its revolutionary technology that will continue to play a critical role in the future of crypto assets and blockchain far beyond what the bank can offer.”