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Cryptocurrency Wallet Provider Ledger Attains $1.4B Valuation after Procuring $109M Funding

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Ledger, the hardware wallet producer has tapped a $109M (100 million euros) funding round in the series of C funding round extension. Thus; setting its valuation at $1.4 billion (1.3 euros) which is in line with June 2021 funding reports Bloomberg.

Cryptocurrency Wallet Provider Ledger

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In a report by Bloomberg on Thursday 30th March, Ledger a French hardware company reached €1.3 billion which is almost a $1.418 valuation thanks to the funding. Right now, it is planning to cap the 2nd and 3rd closing by April due to the high investor interest.

The institutional investors who are taking part in the current funding round are; True Global Ventures, Morgan Creek, 10T, Cite Gestion, VaynerFund, Digital Finance Group, and SPV respectively.

The ledger must Grow, and Regulatory Uncertainty Notwithstanding

No matter the regulatory uncertainties within the digital assets sector, Ledger still goes ahead to strive. As a result, it is currently growing to the level that it can now protect nearly 20% of the world’s crypto.

The CEO and Chairman of Ledger, Pascal Gauthier made an official statement after the announcement of the Series C Extension round. In the statement, he exposes the company’s ambitions to secure every digital value.

However, he conveyed his gratitude towards the investors who showed their support to the company’s growth. Also, he welcomed the new investors that aid the company guide the “indisputable revolution of value as well as hardware” he says.

The purpose of the Raised Fund

Gauthier goes ahead to recount what the raised fund will be used in place of. According to him, the raised fund will be used to speed up the company’s mission. Ledger’s mission is to circulate its devices to up to hundreds of million of people within the ecosystem.

The raised funds will produce a new era of devices that are manufactured with safety in mind. Most especially; when handling digital assets and other products via blockchain-enabled technology.

Gauthier asserts that, even though the digital assets sector faces a lot of challenges, Ledger remains a “haven for clients”. Most especially; in times of regulatory confusion and volatility, a factor which is displayed by the increase in the demand for hardware wallet devices.

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Innovation is Necessary for Leadership

Gauthier further explained that Ledger is devoted to continual innovation as well as retaining its market position. He emphasized the necessity to acquire hardware devices that can’t be replaced by mobile phones as a result of their distinct features focused on security.

However, at present, the major focus of Ledger is to improve the user experience through software, allowing the merging of new cryptos, services, blockchains, and other tools to modify Web3.

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