Paris-based crypto hardware wallet provider Ledger announced today the completion of a US$380 million series-C fundraise, giving the company an implied valuation of more than US$1.5 billion.

Fast Facts:

  • Ledger has sold more than 3 million hardware wallets in 190 countries to date, and secures an estimated 15% of all cryptocurrency assets globally, according to its own figures.
  • Ledger, whose main business is its hardware wallet for cryptocurrency assets, plans to use the fresh capital to expand product offerings such as decentralized finance services via its Ledger Live wallet app, and its enterprise capabilities.
  • “This industry is fast becoming mainstream and reshaping the entire financial sector and beyond,” said Ledger’s CEO Pascal Gauthier in a statement.
  • The series-C round was led by 10T, a mid- to late-stage growth equity fund, and included Cathay Innovation, Digital Currency Group, venture capitalist Tim Draper, and Hong Kong-based blockchain gaming unicorn Animoca Brands and Capital. Ledger previously raised US$8.3 million in a series-A round in 2017 and US$75 million in a series-B round in 2018.