Announced in a Ledn press release from 26 May, the financing round was led by London-based Kingsway Capital, with participation from new investors including Alan Howard, Hashed, Susquehanna Private Equity Investments LLLP, ParaFi Capital, Alexis Ohanian, and John Pfeffer. All investors from Ledn’s prior funding round, held six months ago, also participated in the Series A.
Adam Reeds, the Co-founder and CEO of Ledn, said the new injection of capital will be used to expand the company’s success in North and South America. The company will work on growing its global footprint by prioritizing growth markets around the world, he explained. Active in 105 countries, Ledn has exceeded $1 billion in assets on its platform, grown its total lending book by over 800%, and its savings products by 280% since the beginning of 2021.
Ledn recently launched Ledn Trade, a service that enables clients to trade USDC and Bitcoin, targeting customers in developing markets. According to Manuel Stotz, the Founder of Kingsway Capital, the product-market fit of Ledn’s services is evidence of a growing global demand for innovative digital asset solutions.
“The emergence of digital assets, whether via Bitcoin or USD Stablecoins, is perhaps the greatest opportunity for financial inclusion, as well as an opportunity for a more decentralized and thus more equitable global internet,” he said in the press release.