Alexis Ohanian, Bitcoin, Blockfi, Cryptocurrency, Emerging Markets, John Pfeffer, Kingsway Capital, LATM, ledn, Manuel Stotz, Mauricio Di Bartolomeo, Series A, Stablecoins, Venezuela

Ledn, a cryptocurrency lending and savings platform based in Canada, has managed to raise $30 million in its latest funding round. The money raised will be used to expand its offer of lending products, and to expand its reach in more countries. Ledn could take advantage of the recent problems that Blockfi, one of its contenders, is facing now to increase its share in the sector.

Ledn Raises $30 Million in Latest Funding

Ledn, a Canada-based cryptocurrency lending platform managed to raise $30 million in its Series A funding round, a more than tenfold increase from its first funding round. The round was led by Kingsway Capital, a London-based investment firm with a focus on digital assets and mobile internet investments.

The round also had participation from other investors: Alan Howard, Hashed, Susquehanna Private Equity Investments LLLP, ParaFi Capital, Alexis Ohanian, and John Pfeffer. According to the press release statement, all of the first backers of the company also chipped in. This is the second successful funding round that Ledn has hosted, with the first one raising $2.7 million last February. Since then, the company has grown enormously with the Bitcoin bull market.

Ledn’s CEO, Adam Reeds, stated that its priority is to occupy markets with big growth potential. Reeds stated:

Mauricio Di Bartolomeo, who is Ledn’s CSO, stated the importance of Ledn’s proposal for emerging markets like Venezuela, where he grew up. Di Bartolomeo declared:

Ledn’s Focus Markets

The focus that Ledn’s has on emerging markets separates them from most of their competitors. Its focus is to carry these financial opportunities to the unbanked, to onboard them to a new system. This is why Kingsway Capital has put its trust behind Ledn. Manuel Stotz, the founder of Kingsway Capital, declared:

The chance of bringing bitcoin (BTC) and stablecoins to these new markets via an established platform is a big opportunity for investors. And with this money influx, Ledn could have the manpower to take on the big players in the business, like Blockfi, which has faced some issues after a series of mistakes that have eroded the trust some customers had in the platform.

What do you think of Ledn’s last funding round? Tell us in the comments section below.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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