Ledger seeks new funding of up to $ 100 million

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The well-known French startup Ledger develops and sells physical cryptocurrency wallets for individuals, professionals and corporate clients. Today, the company is looking for new funding, having managed to raise nearly $ 380 million in June 2021. Sources close to the situation report this. As such, Ledger is currently seeking at least another $ 100 million from strategic investors.

Founded in 2014 by Thomas France and Eric Larcheveque, two French entrepreneurs who previously entered the cryptocurrency industry after co-founded La Maison du Bitcoin (later renamed Coinhouse). Ledger has managed to become one of the world’s largest producers of physical cryptocurrency wallets. The company is now facing competition from other cryptocurrency wallet makers such as the popular Trezor, as well as Ellipal, Coolwallet, Coinkite and Safepal.

Ledger, French unicorn

The French physical wallet startup is seeking new funding after a June 2021 fundraiser, according to Bloomberg experts. This event marked a turning point in the company’s history as it was valued at $ 1.5 billion, enabling it to achieve unicorn status.

Recall that the term “unicorn” in financial jargon means a start-up, mainly in the field of technology, digital technologies, the Internet, finance or e-commerce, with a value of more than 1 billion dollars, not registered and not affiliated with a large group. . It is also a term coined in 2013 by the American venture capitalist Eileen Lee.

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2021 was an extremely positive year for the French tech sector; While the country lagged far behind its European neighbors and only had three unicorns in 2017, that number has jumped to 27 thanks to big startups like Alan, Back Market or Voodoo. Today, in 2022, there are 23 active unicorns in France. and 25 overall through the integration of Deezer and OVHCloud, which no longer exist after their IPO.

By 2030, the physical cryptocurrency wallet market could reach $ 1.72 billion.

Ledger sells Nano S Plus and Nano X with prices included $ 79 to $ 149 excluding tax. These two wallets are non-custodial and can store, send and receive dozens of different cryptocurrencies. Recall that a non-custodial cryptocurrency wallet is a wallet in which only the owner owns and controls the private keys. For users who want more control over their funds, non-custodial wallets are the best option.

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Ledger’s upcoming $ 100 million fundraiser follows a recent Straits Research report suggesting this. The hardware wallet market is expected to reach $ 1.72 billion by 2030. This was reported by the financial analysis firm Straits Research. The Asia-Pacific region holds the largest share of the physical wallet market in the world. moreover, the highest growth potential expected comes from this region.

The company has added support for the Cardano cryptocurrency (ADA) with the ability to manage 100 tokens based on the Cardano blockchain. Additionally, ADA support was implemented last June. The French manufacturer also introduced a new line of physical wallets, paired with the Nano S Plus and Nano X series, but with new community-chosen colorways, including “Mystic White, BTC Orange, Deepsea Blue, Ice, Cosmic Purple and Blazing Orange. . ” .

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