a Bitcoin wallet Ledger received investments in the amount of $75 million to Finance the B
French hardware startup Ledger has announced a new funding round series B in the amount of $75 million, the purpose of which was to increase the operations and support demand for products such as its hardware Bitcoin wallet.
French crypto and the blockchain Ledger, the firm has received €61 million ($75 million) from investors in a series B financing that was led by the British venture capital company Draper Espirit.
“This round is one of the largest traditional series B investments in blockchain technology and crypto-currencies today (except ICO)”, — stated in the Ledger.
The money will be used to Finance expansion of Ledger research, development and capacity-building activities to increase productivity to meet the demand for the company’s products.
Founded in 2014, the company Ledger now has offices in Paris and San Francisco, which employs 82 people. The startup has already become profitable, when in 2017, operating income amounted to €46 million ($56 million) compared with €600,000 in 2016. This year the purpose of the Ledger is from 3 to 6 million hardware wallets.
In addition to supporting retail users of Bitcoin, the Ledger is willing to cooperate with financial institutions. Although all the details are not known, “Ledger Vault” will allow banks, hedge funds and firms to manage their scriptactive using a “server” architecture.
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