Hardware wallet manufacturer Ledger has successfully completed a €100 million funding round, according to a report by Bloomberg on March 30.
The Paris-based startup is now valued at €1.3 billion, the same valuation it received from its last raise in June 2021. The round’s investors include True Global Ventures, Cité Gestion SPV, Digital Finance Group, and VaynerFund.
Ledger claims it stores more than 20% of the world’s cryptocurrencies and 30% of the world’s NFTs, highlighting its dominant position in the crypto wallet market. The funding round’s success comes as the broader crypto industry experiences volatility, making Ledger’s hardware wallets an attractive option for investors looking for security and stability. A second closing is expected in mid-April, with a third closing to follow due to high investor demand.
Ledger’s success highlights the importance of hardware wallets in the crypto industry, as investors seek secure and reliable storage solutions for their digital assets. With the rise of non-fungible tokens (NFTs), the demand for secure storage solutions has increased significantly, making Ledger’s position as the largest hardware wallet manufacturer all the more valuable. Investors recognize the value of Ledger’s dominant position in the market, evident by the strong support it received in the funding round.
Looking ahead, the success of this funding round is likely to further solidify Ledger’s position in the market and attract new investors looking for secure storage solutions for their digital assets. Additionally, it underscores the continued growth of the crypto industry, despite the recent market turbulence, as investors recognize the potential for significant gains in the world of digital assets.
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This article was republished from azcoinnews.com
