Ledger

Ledger is a hardware/cold wallet developer that provides secure storage and protection for cryptocurrencies. Its wallet features a proprietary operating system called BOLOS and a certified secure chip to ensure the safety of a user's wallet (private key) and assets. These look similar to a USB device and contain a small screen to confirm transactions. Ledger offers three cold wallet models: the Nano S Plus, the Nano X, and the Stax, as well as accessories to protect the wallets and recovery phases.

In addition, Ledger offers Ledger Live, a mobile and desktop app that allows users to purchase and manage cryptocurrencies and NFTs, as well as access dApps, and take part in staking. The company also provides a crypto debit card called the CL Card provided in partnership with Baanx that allows users to spend their cryptocurrency. The CL Card is available to UK and European Economic Area (EEA) customers, regardless of whether they own a Ledger wallet. Furthermore, Ledger operates an NFT marketplace that allows artists and brands to release new NFTs.

For enterprises, Ledger offers a platform that provides governance and treasury management, as well as DeFi and NFT management features, for the secure storage of digital assets.

Key customers and partnerships

The company has collaborated with various firms in the blockchain and DeFi industry to enhance its offerings. It partnered with Bitski to integrate support for its hardware wallets with Bitski’s online wallets. Ledger also partnered with Figment to incorporate validation and staking services for popular PoS networks, enabling users to delegate their tokens and earn rewards in exchange. Additionally, it collaborated with BitPay to enable cryptocurrency purchases and Compound to grant its users access to the latter’s lending and borrowing services.

Funding and financials

Ledger raised EUR 100 million (USD 108 million) in an extended Series C funding round in March 2023, at a valuation of EUR 1.3 billion (USD 1.4 billion; similar to its previous funding round). The round saw participation from existing investors such as 10T, Cité Gestion Private Bank, and Cap Horn, as well as new investors such as True Global Ventures, Digital Finance Group, and VaynerFund. It had planned to utilize the fresh capital to expand its network of distributors, as well as increase the production and development of products.

As of March 2023, the company claimed to have sold one million devices between June 2022 and February 2023, with lifetime unit sales of six million.