Ledger attracted $ 75 million to upgrade hardware wallet - Hitecher
Ledger attracted $ 75 million to upgrade hardware wallet

Ledger attracted $ 75 million to upgrade hardware wallet

by James B. Hutcherson on

Startups

The French company Ledger, which develops hardware bitcoin-wallets, announced successful financing for the further development and expansion of the company. Several large investors made investments totaling $75 million.

The company plans with the help of the received funds to conduct new research, to improve the development and attract new specialists from all over the world.

Ledger estimated that about one third of users are professional participants in the financial sector. To increase revenue, developers plan to improve their software for the corporate sector to attract banks, companies and hedge funds.

In March 2017, Ledger held the first part of the company to raise funds and raised $8.3 million, which are intended to build a factory in China.


Read also: What Is A Venture Fund?


Ledger was founded in 2014 and has been developing successfully since then. During this time, the number of employees has increased from eight to 82 people who work in San Francisco, Paris and Vierzon. Total sold more than a million wallets in 165 countries. This year, Ledger plans to sell between 3 and 6 million of its devices.

The company’s modern wallets support several dozens of different cryptocurrencies. The company’s profit was €46 million for 2017 and €600,000 in 2016.
In the future Ledger plans to supply software for other manufacturers and become an IT giant, which will provide the infrastructure for the entire cryptocurrency market.

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