• Mon. Mar 4th, 2024

Recent Round of Fund Raising Campaign Allows a Crypto Saving Company to Collect US$ 30 M

May 29, 2021

A Canadian-based crypto platform called Ledn ended up collecting a handsome amount of about US$ 30 Million through its recent fundraising campaign. The funds so generated and collected will be utilized towards the company’s initiatives of expanding its business by introducing further crypto consumer-related products within and outside the borders.

Ledn, is a popular crypto company which is registered in Canada and has been rendering services within and outside the country. The sole business of the company is to lend crypto loans to investors as well as providing crypto-saving services. Since the company’s business is growing exponentially, it wanted to extend its business arms within and outside the country. It was informed earlier by Ledn that it wanted to introduce more crypto products for its local and international customers.

Aimed with the purpose of expansion, Ledn had accordingly initiated a fundraising campaign. For raising and collecting the funds, Ledn took on board another crypto company namely Kingsway Capital. This firm is based in London, UK, and is an investment company whose primary business is focused on the crypto and digital asset industry. In addition, Kingsway Capital has been one of the leading investors in the field of mobile internet services.

For funding raising, Ledn also managed to bring on board prominent investors like ParaFi, Alan Howard, Alexis Ohanian, Hashed, John Pfeffer, and Susquehanna. All of these investors have been those investors who were the initial supporters of Ledn.

At the end of the campaign, it was informed Ledn that the campaign had gone successful. It was reported that the company had managed to collect funds to the tune of US$ 30 Million. This was the second round of fundraising and the first one was carried out by Ledn in February 2020. However, in the first round of capital generation, the company was able to collect US$ 2.7 Million only. But this time the fund raised are huge as has been informed by Ledn in the post-campaign press release.

The company also informed that because of the Bitcoin rally since last year, the company’s business had grown immensely. Now that it has more funds, the same will be utilized towards the company’s expansion within and outside Canada. The company wishes to introduce more consumer-related products that will be crypto-based.

Adam Reeds, the CEO of Ledn, said that the company’s focus is towards occupying markets. He also apprised that now they have funds in their hands, they would want to use it for the expansion of business. He said that the initial expansion is already carved out and areas in South & North America have been marked. Thereafter, the company would expand in other parts of the world, concluded Reeds.

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