Friday Fundings: Ledger, Faire, Mythical Games

Crypto Wallet Startup Now Sports a $1.5 Billion Valuation

Ledger, a French company that makes digital wallets to store cryptocurrency, raised $380 million in venture funding. The Series C round was led by 10T Holdings and included existing investors. The latest fundraising gives Ledger a valuation of more than $1.5 billion.

In addition to its popular crypto wallet, the company operates Ledger Live, a cryptocurrency management platform, and Ledger Enterprise Solutions, a digital assets security service for financial institutions. The company has been experiencing rapid growth, selling more than 3 million hardware wallets in 190 countries since its launch in 2014. Proceeds from the fundraising will be used to develop its hardware products, expand its enterprise offering, and invest in its proprietary operating system.

Online Wholesale Marketplace Operator Raises $260 Million

Faire, an online wholesale marketplace operator, raised $260 million in venture capital, giving it a valuation of roughly $7 billion. It is close to triple the $2.5 billion valuation the startup had just a little over six months ago. Sequoia Capital led the Series F round, which also included existing investors Baillie Gifford and Wellington Management.

Faire helps small retailers compete with Amazon (AMZN) and Walmart (WMT) by connecting them with small brands around the world. Faire entered the European market three months ago and has experienced rapid growth since. Faire plans to use the new capital to increase its investment in apparel, significantly increase its headcount, and expand into new markets.

NFT Game Maker Raises $75 Million

Mythical Games, a non-fungible token startup, raised $75 million in a Series B round of funding. Growth equity firm WestCap led the funding which also included participation from VaynerFund, Galaxy Digital, and others. Mythical Games has raised a total of $120 million in venture funding.

Traditionally, video game players pay normal dollars and cents for in-game items that hold value only within that specific virtual world. At the moment, they can’t really be sold to other players, essentially rendering them useless if players lose interest in a game. Mythical Games wants to tackle that issue by turning these items into NFTs that can then be bought and sold. Prices would then be market-based, fluctuating on the scarcity of an item. One of Mythical Games’ first ventures is called Blankos Block Party, which already has more than 100,000 NFTs.

Things are changing daily within the financial world. Sign up for the SoFi Daily Newsletter to get the latest news updates in your inbox every weekday.

Sign up

Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Adviser
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.

All your finances.
All in one app.

SoFi QR code, Download now, scan this with your phone’s camera

All your finances.
All in one app.

App Store rating

SoFi iOS App, Download on the App Store SoFi Android App, Get it on Google Play

ABOUT Meg Richardson Meg Richardson is a writer specializing in markets, technology, and personal finance. She loves breaking down seemingly complex ideas and making them readable and interesting for everyone. She holds an MFA in writing from Columbia University. When she is not writing about finance, she enjoys running in Central Park and drawing cartoons.

TLS 1.2 Encrypted
Equal Housing Lender