Crypto unicorn Ledger lands in Australia as it chases SMSF boom
The 11-year old startup, which raised at a $2.1 billion valuation in 2023, is putting boots on the ground in Australia.
French cryptocurrency unicorn Ledger is opening an Australian operation, betting on a return of retail money and hoping to capitalise on self-managed super funds (SMSFs) exploring crypto.
The USD1.4 billion ($2.15 billion) startup, which makes hardware wallets that protect crypto from being hacked or scammed, is hiring for an Australian market manager who will build a small team out from there.
“We’re paying specific attention to Australia,” Ledger CTO Charles Guillemet said in an interview. “First we’re [hiring] a local GM, and we’ve secured dedicated partnerships with major retail… and also we plan to do consumer education campaigns and advertising.”
Founded in 2014, Ledger became a unicorn in 2021 when it raised a huge USD380 million at a USD1.5 billion valuation. Unlike others who reached that status in those heady days, it managed to retain most of that valuation (USD1.4 billion) when it raised again in 2023 during crypto winter.
