Ledger completed a $50 million secondary sale of shares in the fourth quarter of last year, led by CEO Pascal Gauthier, but did not disclose the valuation.
The transaction involves early investors, amid Ledger's continued expansion in the US, upgrades to its wallet app, and revenue growth targets. The CEO said the company has no immediate plans for an IPO, but is preparing for both scenarios: going private or going public.
- Ledger sold $50 million worth of subordinated shares, to be completed in the fourth quarter.
- There are no urgent IPO plans; preparations for listing are still underway.
- Upgrade Ledger Wallet, aim to double revenue this year; open a New York office.
The deal is worth $50 million, and the valuation has not been disclosed.
Ledger completed a $50 million secondary sale of shares, led by CEO Pascal Gauthier; the transaction took place in the fourth quarter of last year and the valuation was not disclosed.
The deal involved early investors, according to information cited by Bloomberg. Because it was a secondary transaction, it was a transfer of shares between existing shareholders rather than a Capital round, and the company did not disclose the accompanying valuation.
Previously, Ledger was reported to be in discussions with investment banks regarding a planned IPO in the US, with a valuation exceeding $4 billion. The latest information indicates that the CEO does not consider an IPO an immediate priority, but the company remains open to either remaining private or listing in the future.
Growth plan: Upgrade Ledger Wallet, expand in the US.
Ledger is upgrading its Ledger Wallet app and aiming to double its revenue this year, while also opening an office in New York and appointing a new CFO.
In 2023, Ledger raised €100 million, valuing the company at €1.3 billion. Current product moves focus on upgrading the wallet app, with the goal of accelerating revenue growth this year.
In terms of organization and market expansion, Ledger recently opened an office in New York and appointed John Andrews, a former leader at Circle, as CFO. These moves indicate the company is both strengthening its presence in the US and preparing for future strategic Capital options.
