Bitcoin lending platform Ledn has announced the completion of a Series A financing round worth $ 30 million.
The platform allows users to open interest-bearing Bitcoin savings accounts and take out Bitcoin loans to gain access to fiat without having to sell their BTC. It also offers services based on other digital assets like USDC.
This round was led by London-based hedge fund Kingsway Capital, with the participation of the Hashed Venture Fund, Susquehanna Private Equity Investments, ParaFi Capital, billionaire hedge fund manager Alan Howard, John Pfeffer and Reddit co-founder Alexis Ohanian. All investors from Ledn’s previous funding round, including Coinbase Ventures and CMT Digital, also participated.
“Ledn has grown his fortune on his platform by over 320% since his last round just six months ago,” read a press release to Bitcoin Magazine. “The proceeds from the round will be used to expand Ledn’s team and global presence and to further improve Ledn’s technology and product offering. In addition, Ledn’s investors bring regional expertise that enables Ledn to fulfill its mission of unlocking the power of Bitcoin and other digital assets to create wealth through innovative financial products. “
Co-founder Mauricio Di Bartolomeo added that the company plans to continue building its success in North and South America and expand its global presence.
“We are prioritizing the needs of the people we serve and investing in solutions like proving reserves to protect them,” he said, according to the press release. “When I grew up in Venezuela, I saw firsthand how an unregulated system with little to no transparency can affect its employees. That is why it is a central component in the management of the funds that our customers entrust to us. “