Ledn, a lending platform for digital assets, has followed up its recent funding round with the close of its Series A on $30m.
Kingsway Capital led the Series A investment, with commitments also coming from Alan Howard, Hashed, Susquehanna Private Equity Investments LLLP, ParaFi Capital, Alexis Ohanian and John Pfeffer.
The round was also supported by all of the FinTech’s existing investor base, which includes White Star Capital’s Digital Asset Fund, Coinbase Ventures, Global Founders Capital and CMT Digital.
Ledn previously raised $2.7m in funding back in February 2021.
Funds from the round will be used to grow the company’s team and global presence as well as enhance its technology and product offerings. Ledn also hopes its investors, which have regional-specific expertise, will enable the company to unlock the power of digital assets.
The company claims to have grown the assets on its platform by more than 320% over the past six months.
Ledn co-founder and CEO Adam Reeds said, “We are building a world class company to help people globally unlock the power of the fastest growing asset class for building generational wealth.
“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.”
Ledn enables consumers to borrow bitcoin-backed loans which enable them to access dollars without needing to sell their cryptocurrency.
The company recently launched Ledn Trade, a service that enables clients to exchange between USDC and bitcoin, catering to those who wish to quickly move between the two assets.
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