French cryptocurrency startup Ledger is planning a second phase to the $75 million Series B round closed in January, Forbes stated in a new report.
Founded in 2014, Ledger is a leading provider of cryptocurrency hardware wallets – Ledger Nano S and Ledger Blue. It has also launched a solution for financial institutions, the Ledger Vault, enabling banks, hedge funds and family offices to manage their crypto assets. This week, the company launched ‘Ledger Live’ – an all-in-one companion application for Ledger devices.
In January 2018, the company raised $75 million in a Series B round, marking one of the largest traditional series B investment into blockchain and cryptocurrency related technologies at the time (excluding ICOs).
Ledger seems to be on track to become Europe’s first crypto unicorn. The company is reportedly in the process of following up January’s Series B round with a second phase. A source familiar with the matter told Forbes that Siemens, Samsung and Google’s venture arm GV have looked at the company’s financials, adding that there are talks about Ledger’s valuation nearing $1 billion.
According to the report, the new round would focus on raising funds from industrial partners who will also sign commercial contracts with the company.
“But only if we feel there is a strong business interest to build something with us, an interest that goes beyond just the money,” Ledger President Pascal Gauthier said.
Gauthier told Forbes that the company sold more than a million devices last year across 165 countries, generating sales in excess of €45 million ($52.9 million) and leading the company into profit, with Ebitda of €25 million ($29.4 million). He is now helping the company launch a business-to-business (B2B) crypto wallet.
