Ledger in a $380 million series C led by 10T Holdings.


Ledger, a Paris, France developer of a secure gateway solution for digital assets, announced a $380 million Series C round.

The money was raised from investors led by 10T Holdings, joined by existing shareholders including Cathay Innovation, Draper Esprit, Draper Associates, Draper Dragon, DCG, Korelya Capital, and Wicklow Capital and other newcomers including Tekne Capital, Uphold Ventures, Felix Capital, Inherent, Financière Agache (Groupe Arnault), and iAngels Technologies.

The Series C fundraising means that Ledger has an implied valuation of more than $1.5 billion.

Ledger, founded in 2013 by Eric Larchevêque, Joel Pobeda, Nicolas Bacca and Thomas France, and led by CEO Pascal Gauthier, developed a secure gateway for investors looking to access the world of digital assets securely. Ledger’s products include the world’s most popular hardware wallet for cryptocurrency assets, the most user friendly and secure cryptocurrency management platform, Ledger Live, and the best digital assets security solution for financial institutions, Ledger Enterprise Solutions.

Ledger says it secures an estimated 15% of all cryptocurrency assets globally, and as a trusted leader, it is uniquely positioned to capitalize on the hypergrowth of digital assets as they become increasingly mainstream. Ledger has sold more than 3 million hardware wallets in 190 countries to date, and has more than 1.5 million monthly users on Ledger Live. Ledger’s financial profile has evolved with its operations, with consumer transaction revenue from Ledger Live, and enterprise revenue from Ledger Vault, increasingly diversifying revenue beyond the core consumer hardware revenue.

Other investors notably included: Tekne Capital, Uphold Ventures, Rosemoor Capital, Libertus Capital II, Felix Capital, Inherent Private Opportunities, iAngels Technologies, Ascendant, Cygni SPV, MACSF, Financière Agache, Marcy Venture Partners, Loire Centre Capital/Caisse d’Epargne Loire Centre, Alliance Entreprendre, Scott Galloway, Crédit Agricole Centre Loire, Korelya Capital, Cité Gestion, FirstMark Capital, Caphorn Invest, Global Founders Capital, Animoca Brands, Fabric Ventures, Crypto.com Capital, The Maze Group, Cardinal Capital and Warburg Serres.

Total investments received (USD): 466.38M