Startup Ledger Raises $75M for Crypto Wallets

French startup Ledger has just raised $75 million in a Series B funding that will be used for expanding its crypto wallets, TechCrunch reported today.

The round, which was led by Draper Espirit, joins the $7 million in funding Ledger received last year; the larger amount (and the fact that the round was oversubscribed, Ledger said) the company gained in its Series B might have something to do with the 2017 cryptocurrency hype.

The startup sold a million of its wallets last year, a significant increase from the 30,000 wallets it sold in 2016.

The company, which offers hardware wallets to protect its users’ cryptocurrency—like its Ledger Nano wallet—a method that’s somewhat more secure than simply keeping one’s funds in an online wallet.

Hackers will have to crack the hardware to grab funds from a Ledger device, and with its new funding, the startup will continue to expand its offerings and services to keep up that protection.

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