TORONTO--(BUSINESS WIRE)--Ledn Inc. (“Ledn”), a global digital asset platform offering innovative saving and lending products for Bitcoin and other digital assets, is pleased to announce the completion of a $30 million Series A financing round led by Kingsway Capital, with participation from new investors including Alan Howard, Hashed, Susquehanna Private Equity Investments LLLP, ParaFi Capital, Alexis Ohanian, and John Pfeffer. All investors from Ledn’s prior round including White Star Capital’s Digital Asset Fund, Coinbase Ventures, Global Founders Capital and CMT Digital also participated to fuel Ledn’s growth.
Ledn has grown its assets on its platform by over 320% since its last round, just six months ago. Proceeds of the round will be used to grow Ledn’s team and global presence, as well as continue to enhance Ledn’s technology and product offerings. Additionally, Ledn’s investors bring regional-specific expertise that will enable Ledn to achieve its mission of unlocking the power of Bitcoin and other digital assets to build wealth through innovative financial products.
“We are building a world class company to help people globally unlock the power of the fastest growing asset class for building generational wealth,” says Adam Reeds, Ledn co-founder and CEO. “With this new injection of capital, we will expand on our success in North & South America and grow our global footprint, prioritizing growth markets. Our focus is to build simple and secure solutions that allow clients to participate in the growing digital asset economy in a way that meets their individual needs and our own rigorous standard for security and reliability.”
“We prioritize the needs of the people we serve, investing in solutions like proof-of-reserves to protect them, and provide assurance that all of our lending activities are covered by real assets,” said Mauricio Di Bartolomeo, co-founder and CSO. “Growing up in Venezuela, I saw first hand how an unregulated system with little to no transparency can impact its people, and that’s why it’s such a core component of how we manage the funds our clients entrust to us."
Ledn also recently launched Ledn Trade, a service that enables clients to exchange between USDC and Bitcoin, specifically catering to clients in growth markets who wish to quickly move between the two digital assets. The product-market fit of Ledn’s services to date is evidence of a growing global demand for this kind of innovative digital asset solution.
“Having spent nearly a decade investing in emerging and frontier markets, we’ve had first-hand experience witnessing the power of disruptive technologies delivered to billions of consumers coming online for the very first time,” says Manuel Stotz, founder of Kingsway Capital. “The emergence of digital assets, whether via Bitcoin or USD Stablecoins, is perhaps the greatest opportunity for financial inclusion, as well as an opportunity for a more decentralized and thus more equitable global internet. We are proud to support the talented team at Ledn in making this vision a reality and are honored to co-invest alongside such a world-class roster of global investors.”
About Ledn
Ledn provides financial products with a mission to help clients across the globe unlock the power of digital assets to build wealth for the long term. Operating in over 100 countries, Ledn offers interest-bearing savings accounts and Bitcoin-backed loans, enabling clients to access dollars or additional Bitcoin without needing to sell any of their existing holdings.
Ledn has active clients in 105 countries, and has exceeded $1 billion in assets on its platform. Since the start of 2021, Ledn has tripled its team while growing its total lending book by over 800% and savings products by 280%. Ledn remains an industry leader when it comes to transparency and accountability standards, being the first-ever lending platform to undergo a formal proof-of-reserves attestation by Armanino LLP, a top public accounting and consulting firm and a recognized global leader in digital asset assurance solutions. For more information visit ledn.io.
About Kingsway Capital
Kingsway Capital is a London-based investment firm whose limited partners include leading US endowments and foundations with a long-term investment horizon, measured in years and decades. Kingsway has a successful history in backing promising companies at the nexus of Emerging Markets and disruptive technologies, such as mobile internet and digital assets.
