Cryptocurrency Hardware Wallet Maker Ledger Seeks to Raise $100 Million

Sources with knowledge of the situation say that French cryptocurrency hardware wallet maker Ledger is looking to attract more money after raising $380 million in June 2021. Ledger, a manufacturer of hardware wallets, is apparently seeking strategic investors to contribute at least $100 million.

After the company’s Series C funding round in June, Ledger, a French producer of crypto hardware wallets, is reportedly looking for additional funding. At the time, Ledger received a post valuation of approximately $1.5 billion after raising $380 million in a financing round sponsored by 10T Holdings.

Ledger, a maker of cryptocurrency hardware wallets, reportedly hopes to raise $100 million.

Ledger, which was established in 2015 by Éric Larchevêque and Thomas France, has established itself as one of the world’s leading producers of crypto hardware wallets. Ledger is in direct competition with famous brands of hardware wallets for digital currencies including Trezor, Ellipal, Coolwallet, Safepal, and Coinkite.

Research Says Crypto Hardware Wallet Market Projected to Grow to $1.72 Billion by 2030
Ledger sells the Nano S Plus and the Nano X series hardware wallets for prices between $79 to $149 before taxes. Both wallets are non-custodial cryptocurrency hardware wallets that can store, send and receive dozens of digital currencies. Ledger’s ostensible capital raise talks for $100 million follows the recent Straits Research report that indicates the hardware wallet market is projected to grow to $1.72 billion by 2030.

Ledger is reportedly “in talks to raise at least $100 million in a capital round that will give it a better valuation,” according to the article released on July 30. In response to inquiries from Bloomberg’s Gillian Tan, Hannah Miller, Anna Irrera, and Olga Kharif, Ledger declined to comment on the claimed funding round.

The market intelligence company Straits Research says that the Asia-Pacific region shows the highest market share of hardware wallets worldwide and the highest potential of projected growth stems from the area as well. While Ledger enjoyed a $380 million capital injection in June 2021, that summer the company suffered blowback stemming from several leaks of information tied to customer data. At the time, scammers were reportedly attacking existing Ledger customers to steal their private seeds.

Since then the company has continued to expand and last week Ledger Live, the company’s native software program added Cardano (ADA) token support with the ability to manage 100 Cardano-based tokens. ADA support was implemented in June this month the France-based hardware wallet maker introduced colorized Nano S Plus and Nano X series wallets. The new color names were chosen by the community and include “Mystic White, BTC Orange, Deepsea Blue, Ice, Cosmic Purple, and Blazing Orange.”

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• Cryptocurrency Hardware Wallet Maker Ledger Seeks to Raise $100 Million
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