Cryptocurrency lender Ledn raised $70 million and announces mortgage product
Ledn announced Wednesday that it raised $70 million in a Series B round and is now valued at $540 million USD.
Leading the round was Dan Tapiero's company 10T Holdings. As part of the deal, Tapiero joins Ledn's board of directors.
Other new investors in the round included Golden Tree Asset Management, Raptor Group and FJ Labs. Coinbase Ventures, Alan Howard, ParaFi Capital and Susquehanna Private Equity Investments also participated in the round.
Ledn says its business has grown significantly this year, both in terms of loans and assets (loan collateral and savings account balances).
"Since its founding, Ledn has processed more than $450 million in loans, with 90 percent of that coming in 2021," Ledn's Mauricio Di Bartolomeo said.
