The startup for loans and savings with bitcoin (BTC), Ledn, raised 30 million US dollars in a new round of financing. The series A fundraising included, among others, the billionaire and investor, Alan Howard, as well as the funds Coinbase Ventures, Kingsway Capital, ParaFi Capital, Hashed and Susquehanna.
The one of this This week was Ledn’s second fundraiser in less than four months after the Toronto, Canada-based company raised another $ 2.7 million in seed funding in February. The new amount will serve for the company to expand its operations on a global scale and develop new business models.
«With With this new injection of capital, we will expand our success in North and South America and increase our global presence, prioritizing growth markets. Our goal is to build simple and secure solutions that allow customers to participate in the growing economy of digital assets, “said Adam Reeds, co-founder and CEO of Ledn.
Ledn services now They would target the African market where other ventures in the bitcoiner ecosystem have emerged. Currently, the platform maintains more than 1,000 million dollars in assets with a growth of 800% in its loan book and 280% in its products savings for 2021, as reported through a press release.
Loans and savings with bitcoin
Ledn has several services that include: savings in bitcoin and USDC with an annual interest rate of 6.1%, for BTC, and 12.5% in the case of the stablecoin . For loans, users offer their bitcoins as collateral and obtain US dollars in exchange with an interest rate of 1%.
This last product is aimed at those people who hold positions in BTC and who require funds for a specific situation , but without selling their cryptocurrencies. The company safeguards the user’s assets and transfers the required money to their bank account.
According to Mauricio Di Bartolomeo, co-founder of Ledn, in the first three months of the year the company processed more than $ 120 million in bitcoin-backed loans. According to the executive, with the capital injected the company already has a valuation of 230 million dollars.
Loans collateralized with bitcoin or other cryptocurrencies are business models in expansion within the industry of digital assets, especially in bull markets. According to a study published by CriptoNoticias, in February of this year, more than 400,000 BTC are used as collateral to request financing of some kind.
