Hardware wallets and secure custody infrastructure for digital assets
Ledger builds hardware wallets and digital-asset custody infrastructure for consumers and institutions. Crunchbase's 2026 IPO forecast lists it as a probable public-market candidate as crypto custody demand rises.
Crypto / Cybersecurity📍 Paris, FranceFounded 2014
Current Valuation
$1.4B
as of 2023-Q1
UNICORN
QL Price
$1.2B
-16% vs last round
QuantLogix's current estimate for Ledger, published 2026-09-20 — below the last disclosed round of $1.4B (2023-Q1).
Confidence
medium
Basis
secondary led
What backs this price
Last disclosed round
$1.4B
2023-Q1
weight 0.09
Secondary market print
$1.1B
2026-06-27
weight 0.6
How this price has held up
No round has priced for Ledger since QuantLogix began publishing a price for it, so there is nothing to grade yet. The claim above is on the record from 2026-09-20 and will be graded against the next priced round. See the full accuracy record →
Which publicly-traded funds already hold it, what $10,000 buys, and whether any route is open to you.
Cite this price as QuantLogix QL Price, Ledger, 2026-09-20 (3d61bdb9d87412a9).
The id pins this exact claim, so a citation stays checkable after the price moves.
Model estimate for research — not a quote, target price, or investment advice.
IPO Outlookrumored
Is Ledger going public in 2027?
An IPO is rumored for 2027, with nothing filed. Ledger remains private and the date is not the company's.
What is Ledger's valuation in 2026?
Ledger is valued at $1.4B as of 2023-Q1, set by its Series C extension ($109M, Mar 2023). That is the last confirmed mark, not a live price — private shares do not trade continuously.
Has Ledger filed an S-1?
No public S-1 is on file for Ledger as of 09/20/2026; the IPO is rumored.
No. Ledger is a private company — its shares are not listed on any exchange and there is no ticker. The routes to exposure are pre-IPO secondary marketplaces and funds (accredited investors), employee tender offers when the company runs one, and public companies with read-through exposure. QuantLogix maps every route it can verify for Ledger on its Pre-IPO Access Desk.
Answers are derived from the roster record shown on this page — filing status, last round and confirmed marks. Where the record is silent, the answer says so rather than guessing.
Series C extension — $109M (Mar 2023) · Lead: Existing investors
IPO Status
rumored
Fundraising Status
Series C extension · $109M · 3y 6mo ago
rumoredTotal raised $577M
Secondary Market
Implied price / share
$6.14
Last round price / share
$7.57
vs last round
-18.9%
Open interest
6
Last round price vs secondary price
Secondary price return by period
Implied per-share price from private secondary transactions, as of Jun 2026. This is a point estimate, not a quote — the feed carries no bid, ask or spread, and a secondary print is evidence of what someone paid on that date rather than a live market. Compare across every tracked name →
Latest Funding Round
Round
Amount
Date
Lead Investor
Post-Money
Series C extension
$109M
Mar 2023
Existing investors
—
Talent Signal
Hiring trend
▼ Hiring downtrend
-40% vs 2026-08
Open roles
6
via ashby
Product-build share
33%
engineering, research, product, design
Trajectory
tightening
balanced build + GTM — 33% builders vs 67% go-to-market/G&A — scaling both sides.
Open roles trending down; no tracked executive churn.
Open roles by month
Open roles by function
■ product-building ■ go-to-market / G&A
Staff Security Operations EngineerEngineering Manager - Cloud WalletHR Operations Senior ManagerE-Commerce Business Line DirectorTotal Rewards Specialist – Contractor (6 months)Internship - Total Rewards (Compensation & Benefits)
Counted from Ledger's live job board as of 2026-09-16; role functions classified from posting titles. Open-role counts are an activity signal, not headcount. Refreshed monthly.
Founders & Key People
Eric LarchevequeJoel PobedaNicolas BaccaThomas France
Private-company numbers are not real-time. Reflects publicly disclosed valuations from press releases, news reports, and tender offers as of 2023-Q1. Refreshed quarterly.