Ledger Raises $7M in Funding Round

FinTech, Investing, News | March 31, 2017 By:

Ledger, a bitcoin hardware wallet provider, has raised $7 million in Series A funding.

The round was led by MAIF Avenir. Wicklow Capital, GDTRE, Libertus Capital, Digital Currency Group, The Whittemore Collection, Kima Ventures, BHB Network and Nicolas Pinto participated in the funding round.

The latest investment follows a $1.5M round in 2015 and brings the company’s total funding to $8.5M, one of the biggest blockchain related start-up fundings to date in Europe.

Ledger intends to use the new funding to develop its sales, marketing, engineering, and support teams by recruiting 20 new collaborators.  This will, the company claimed, accelerate the launch of a new enterprise security product for cryptocurrencies, opening new lines of revenues for Ledger.

“Ledger has seen a tremendous growth in the last months, and we are on track to increase tenfold our revenues this year,” said Ledger CEO Eric Larchevêque. “Our primary objective is to reinforce our position as a global market leader on hardware wallet products while we accelerate the development of enterprise cryptocurrency solutions through the signature of soon to be announced strategic partnership agreements. We are also actively pursuing research and development on hardware oracle technology with key industrial customers for smart grid, supply chain and insurance blockchain use cases.”