Ledger’s Growth Potential Confirmed
The French start-up Ledger is famous for their storage devices for securing virtual currencies. They are now leading a 75 million dollars Series C roundtable with venture capital funds including Korelya Capital and Draper Ventures. This investment should help them scale up their business and aim for more countries.
Ledger launched their digital wallet for crypto-currencies in 2014, enabling customers to securely be sent payments and manage their accounts. Their technology can be adapted for all crypto-currencies.
They started to make profit three years after launch, and are now overachieving their goals since they would have sold one million wallets last year –when they were only expecting to sell 50,000 units. These promising results concern the Nano S model: a small, USB-size safe allowing its users to store all their access keys.
Along with their new roundtable, they also unveiled a new offer for businesses: Ledger Vault. This service is meant for banks, financial institutions and other “hedge funds” to secure and manage crypto-assets (send/receive payments, monitor account balances).
Comments – Cutting-edge technology in a favourable context
Crypto-currencies’ ecosystems have been kindling investors’ curiosity, leading them to also bet on their development. Virtual currencies’ attractive prices have, indeed, led many investors to make profit, and some start-ups to become successful, i.e.: Coinbase and Ledger, for instance. Ledger relies on Bitcoin mostly, making it easier to buy and sell. Yet, investors have come to trust this start-up because they aim to secure all Blockchain-based exchanges. The technology they developed for their wallets could be ported to a certain number of connected objects, relevant in industrial contexts, for instance. Opportunities are then plenty for this company, and do not only depend on Bitcoin’s future.
Ledger raised 8.3 million euros since they were founded. This third roundtable should further increase the level of trust they already managed to ascertain.
Ledger also partnered with several international companies, including Intel and Ingenico, by way of implementing the tools they crafted to secure crypto-assets. They want to reach far, and claim they now have customers in more than 165 countries. They are hoping to grow their sales figures two-fold in 2018.