Canadian crypto-lending platform Ledn attracted $ 70 million in Series B funding at a $ 540 million valuation led by Dan Tapiero, 10T Holdings.
The round was also attended by Golden Tree Asset Management, Raptor Group, FJ Labs, Coinbase Ventures, Alan Howard, ParaFi Capital and Susquehanna Private Equity Investments.
The company will direct funding to increase its headcount in 2022.
“Since its inception, Ledn has processed over $ 450 million in loans, 90% of which – during 2021”, – said The block co-founder of the platform, Mauricio Di Bartolomeo.
The company serves 100,000 retail and institutional clients in 127 countries, 10 times more than in the third quarter of 2020. Assets since that moment have grown by 4000%, exceeding $ 1.7 billion.
Ledn has filed an application with the Ontario Securities Commission to register as an investment dealer in Canada, Bartolomeo said.
The platform is registered with the Financial Transactions and Reporting Analysis Center of Canada (FINTRAC) and complies with the rules AML/KYC Canada and the United States.
Simultaneously with the close of the round, Ledn announced the launch of mortgage lending secured by bitcoin.
You can find more information about our #Bitcoin Mortgage product here: https://t.co/IEMEaGsCrR
– Ledn (@hodlwithLedn) December 15, 2021
At the beginning of next year, customers from the USA and Canada will be able to use the service. The product limit for January-March will exceed $ 100 million.
“Most holders cannot use the first cryptocurrency to approve a mortgage. That is why we are launching this product ”, – explained Adam Reeds, co-founder and CEO of Ledn.
As a reminder, in May, the platform raised $ 30 million as part of a Series A funding round.
In November SEC initiated an investigation into the BlockFi crypto-lending platform.
