Ledn valuation, funding and investors
Ledn works in digital asset lending services, based in George Town, Cayman Islands. Founded in 2018, it has about 86 employees.
- Last round
- Series B · $70.0M · Dec 2021
- Valuation at last round
- $540M
- Headcount
- 86 · growing
- Grade
- C
- Founded
- 2018
Ledn valuation today
VCMC values Ledn at $593M today, with a range of $171M to $1.0B and a grade of C. The valuation starts from its last funding round, a Series B round in Dec 2021.
Valuation by date (110 rows)
Each point is what the model would have shown on that date, using only what was known then; before its first round, a company is valued as a startup because it later raised.
| Date | Valuation | Range | Predicted in 1 yr | Phase | Headcount | Trend | Grade | Winding-down probability |
|---|---|---|---|---|---|---|---|---|
| 1 Jan 2018 | $5.91M | $2.15M – $16.2M | $8.10M (+37%) | before first round | – | unknown | D | 0% |
| 1 Feb 2018 | $6.07M | $2.21M – $16.7M | $8.32M (+37%) | before first round | – | unknown | D | 0% |
| 1 Mar 2018 | $6.22M | $2.26M – $17.1M | $8.53M (+37%) | before first round | – | unknown | D | 0% |
| 1 Apr 2018 | $6.39M | $2.33M – $17.5M | $8.76M (+37%) | before first round | – | unknown | D | 0% |
| 1 May 2018 | $6.56M | $2.39M – $18.0M | $8.99M (+37%) | before first round | – | unknown | D | 0% |
| 1 Jun 2018 | $6.73M | $2.45M – $18.5M | $9.23M (+37%) | before first round | – | unknown | D | 0% |
| 1 Jul 2018 | $6.91M | $2.52M – $19.0M | $9.47M (+37%) | before first round | – | unknown | D | 0% |
| 1 Aug 2018 | $7.10M | $2.58M – $19.5M | $9.57M (+35%) | before first round | – | unknown | D | 0% |
| 1 Sep 2018 | $7.29M | $2.65M – $20.0M | $9.66M (+32%) | before first round | – | unknown | D | 0% |
| 1 Oct 2018 | $7.48M | $2.72M – $20.6M | $9.74M (+30%) | before first round | – | unknown | D | 0% |
| 1 Nov 2018 | $7.68M | $2.80M – $21.1M | $9.83M (+28%) | before first round | – | unknown | D | 0% |
| 1 Dec 2018 | $7.89M | $2.87M – $21.7M | $9.92M (+26%) | before first round | – | unknown | D | 0% |
| 1 Jan 2019 | $8.10M | $2.95M – $22.3M | $10.0M (+24%) | before first round | – | unknown | D | 0% |
| 1 Feb 2019 | $8.32M | $3.03M – $22.9M | $10.1M (+21%) | before first round | – | unknown | D | 0% |
| 1 Mar 2019 | $8.53M | $3.10M – $23.4M | $10.2M (+19%) | before first round | – | unknown | D | 0% |
| 1 Apr 2019 | $8.76M | $3.19M – $24.1M | $10.3M (+17%) | before first round | – | unknown | D | 0% |
| 1 May 2019 | $8.99M | $3.27M – $24.7M | $10.4M (+15%) | before first round | – | unknown | D | 0% |
| 1 Jun 2019 | $9.23M | $3.36M – $25.4M | $10.5M (+13%) | before first round | – | unknown | D | 0% |
| 1 Jul 2019 | $9.47M | $3.45M – $26.0M | $10.6M (+11%) | before first round | – | unknown | D | 0% |
| 1 Aug 2019 | $9.57M | $3.48M – $26.3M | $10.7M (+11%) | before first round | – | unknown | D | 0% |
| 1 Sep 2019 | $9.66M | $3.52M – $26.5M | $10.8M (+11%) | before first round | – | unknown | D | 0% |
| 1 Oct 2019 | $9.74M | $3.55M – $26.8M | $10.9M (+11%) | before first round | – | unknown | D | 0% |
| 1 Nov 2019 | $9.83M | $3.58M – $27.0M | $11.0M (+11%) | before first round | – | unknown | D | 0% |
| 1 Dec 2019 | $9.92M | $3.61M – $27.2M | $11.0M (+11%) | before first round | – | unknown | D | 0% |
| 1 Jan 2020 | $10.0M | $3.64M – $27.5M | $11.2M (+11%) | before first round | – | unknown | D | 0% |
| 1 Feb 2020 | $10.1M | $3.68M – $27.8M | $11.3M (+11%) | before first round | – | unknown | D | 0% |
| 1 Mar 2020 | $10.2M | $3.71M – $28.0M | $11.3M (+11%) | before first round | – | unknown | D | 0% |
| 1 Apr 2020 | $10.3M | $3.74M – $28.2M | $11.5M (+11%) | before first round | – | unknown | D | 0% |
| 1 May 2020 | $10.4M | $3.78M – $28.5M | $11.6M (+11%) | before first round | – | unknown | D | 0% |
| 1 Jun 2020 | $10.5M | $3.81M – $28.8M | $11.7M (+11%) | before first round | – | unknown | D | 0% |
| 1 Jul 2020 | $10.6M | $3.85M – $29.0M | $11.8M (+11%) | before first round | – | unknown | D | 0% |
| 1 Aug 2020 | $10.7M | $3.88M – $29.3M | $11.9M (+11%) | before first round | – | unknown | D | 0% |
| 1 Sep 2020 | $10.8M | $3.92M – $29.6M | $12.0M (+11%) | before first round | – | unknown | D | 0% |
| 1 Oct 2020 | $10.9M | $3.95M – $29.8M | $12.1M (+11%) | before first round | – | unknown | D | 0% |
| 1 Nov 2020 | $11.0M | $3.99M – $30.1M | $12.2M (+11%) | before first round | – | unknown | D | 0% |
| 1 Dec 2020 | $11.1M | $4.02M – $30.4M | $12.3M (+11%) | before first round | – | unknown | D | 0% |
| 1 Jan 2021 | $10.2M | $3.70M – $27.9M | $11.3M (+11%) | before first round | 9 | unknown | D | 0% |
| 1 Feb 2021 | $10.3M | $3.73M – $28.2M | $11.4M (+11%) | before first round | 9 | unknown | D | 0% |
| 9 Feb 2021 | $13.1M | $8.57M – $39.7M | $26.1M (+100%) | after a round | 9 | unknown | C | 0% |
| 1 Mar 2021 | $13.6M | $8.57M – $39.7M | $26.1M (+92%) | after a round | 9 | unknown | C | 0% |
| 1 Apr 2021 | $14.4M | $8.57M – $39.7M | $26.1M (+81%) | after a round | 9 | unknown | C | 0% |
| 1 May 2021 | $15.2M | $8.57M – $39.7M | $26.1M (+71%) | after a round | 9 | unknown | C | 0% |
| 27 May 2021 | $230M | $200M – $476M | $414M (+80%) | after a round | 9 | unknown | B | 0% |
| 1 Jun 2021 | $232M | $200M – $476M | $414M (+78%) | after a round | 9 | unknown | B | 0% |
| 1 Jul 2021 | $244M | $200M – $476M | $414M (+70%) | after a round | 9 | unknown | B | 0% |
| 1 Aug 2021 | $256M | $200M – $476M | $414M (+62%) | after a round | 9 | unknown | B | 0% |
| 1 Sep 2021 | $269M | $200M – $476M | $414M (+54%) | after a round | 9 | unknown | B | 0% |
| 1 Oct 2021 | $283M | $200M – $476M | $414M (+46%) | after a round | 9 | unknown | B | 0% |
| 1 Nov 2021 | $297M | $200M – $476M | $414M (+39%) | after a round | 9 | unknown | B | 0% |
| 1 Dec 2021 | $312M | $200M – $476M | $414M (+33%) | after a round | 9 | unknown | B | 0% |
| 16 Dec 2021 | $541M | $469M – $932M | $810M (+50%) | after a round | 9 | unknown | B | 0% |
| 1 Jan 2022 | $550M | $469M – $932M | $810M (+47%) | after a round | 9 | unknown | B | 0% |
| 1 Feb 2022 | $570M | $469M – $932M | $810M (+42%) | after a round | 53 | growing | B | 0% |
| 1 Mar 2022 | $588M | $469M – $932M | $810M (+38%) | after a round | 53 | growing | B | 0% |
| 1 Apr 2022 | $608M | $469M – $932M | $810M (+33%) | after a round | 53 | growing | B | 0% |
| 1 May 2022 | $629M | $469M – $932M | $810M (+29%) | after a round | 53 | growing | B | 0% |
| 1 Jun 2022 | $651M | $469M – $932M | $810M (+24%) | after a round | 53 | growing | B | 0% |
| 1 Jul 2022 | $673M | $469M – $932M | $810M (+20%) | after a round | 53 | growing | B | 0% |
| 1 Aug 2022 | $696M | $469M – $932M | $810M (+16%) | after a round | 53 | growing | B | 0% |
| 1 Sep 2022 | $721M | $469M – $932M | $810M (+12%) | after a round | 53 | growing | B | 0% |
| 1 Oct 2022 | $745M | $469M – $932M | $810M (+9%) | after a round | 53 | growing | B | 0% |
| 1 Nov 2022 | $771M | $469M – $932M | $810M (+5%) | after a round | 53 | unknown | B | 0% |
| 1 Dec 2022 | $797M | $469M – $932M | $810M (+2%) | after a round | 53 | unknown | B | 0% |
| 1 Jan 2023 | $810M | $458M – $932M | $810M (0%) | after a round | 53 | unknown | B | 0% |
| 1 Feb 2023 | $810M | $439M – $932M | $810M (0%) | after a round | 53 | unknown | B | 0% |
| 1 Mar 2023 | $810M | $421M – $932M | $810M (0%) | after a round | 53 | unknown | B | 0% |
| 1 Apr 2023 | $841M | $465M – $968M | $841M (0%) | after a round | 63 | up | B | 0% |
| 1 May 2023 | $841M | $464M – $968M | $841M (0%) | after a round | 63 | up | B | 0% |
| 1 Jun 2023 | $841M | $463M – $968M | $841M (0%) | after a round | 63 | up | B | 0% |
| 1 Jul 2023 | $841M | $462M – $968M | $841M (0%) | after a round | 63 | up | B | 0% |
| 1 Aug 2023 | $841M | $461M – $968M | $841M (0%) | after a round | 63 | up | B | 0% |
| 1 Sep 2023 | $841M | $333M – $968M | $841M (0%) | after a round | 63 | unknown | B | 0% |
| 1 Oct 2023 | $490M | $292M – $754M | $364M (-26%) | after a round | 53 | down | B | 86% |
| 1 Nov 2023 | $482M | $277M – $765M | $357M (-26%) | after a round | 53 | down | B | 86% |
| 1 Dec 2023 | $474M | $264M – $777M | $349M (-26%) | after a round | 53 | down | B | 86% |
| 1 Jan 2024 | $439M | $251M – $788M | $290M (-34%) | after a round | 53 | down | B | 86% |
| 1 Feb 2024 | $430M | $238M – $800M | $281M (-35%) | after a round | 53 | down | C | 86% |
| 1 Mar 2024 | $388M | $226M – $794M | $238M (-39%) | after a round | 52 | down | C | 97% |
| 1 Apr 2024 | $379M | $215M – $808M | $230M (-39%) | after a round | 52 | down | C | 97% |
| 1 May 2024 | $370M | $205M – $821M | $222M (-40%) | after a round | 52 | down | C | 97% |
| 1 Jun 2024 | $361M | $195M – $835M | $214M (-41%) | after a round | 52 | down | C | 97% |
| 1 Jul 2024 | $353M | $185M – $848M | $206M (-42%) | after a round | 52 | down | C | 97% |
| 1 Aug 2024 | $376M | $180M – $885M | $226M (-40%) | after a round | 57 | down | C | 89% |
| 1 Sep 2024 | $393M | $171M – $903M | $242M (-38%) | after a round | 57 | down | C | 82% |
| 1 Oct 2024 | $409M | $162M – $918M | $257M (-37%) | after a round | 57 | down | C | 76% |
| 1 Nov 2024 | $425M | $154M – $931M | $275M (-35%) | after a round | 57 | flat | C | 70% |
| 1 Dec 2024 | $442M | $147M – $942M | $291M (-34%) | after a round | 57 | flat | C | 64% |
| 1 Jan 2025 | $409M | $140M – $889M | $286M (-30%) | after a round | 57 | flat | C | 59% |
| 1 Feb 2025 | $423M | $133M – $889M | $302M (-29%) | after a round | 57 | flat | C | 54% |
| 1 Mar 2025 | $437M | $127M – $889M | $319M (-27%) | after a round | 57 | flat | C | 50% |
| 1 Apr 2025 | $450M | $120M – $889M | $334M (-26%) | after a round | 57 | flat | C | 46% |
| 1 May 2025 | $463M | $115M – $888M | $350M (-24%) | after a round | 57 | flat | D | 42% |
| 1 Jun 2025 | $475M | $109M – $886M | $365M (-23%) | after a round | 57 | flat | D | 39% |
| 1 Jul 2025 | $495M | $139M – $898M | $389M (-21%) | after a round | 60 | up | C | 36% |
| 1 Aug 2025 | $506M | $135M – $897M | $403M (-20%) | after a round | 60 | up | C | 33% |
| 1 Sep 2025 | $518M | $131M – $895M | $418M (-19%) | after a round | 60 | up | C | 30% |
| 1 Oct 2025 | $522M | $90.2M – $882M | $420M (-20%) | after a round | 60 | flat | D | 28% |
| 1 Nov 2025 | $540M | $125M – $892M | $443M (-18%) | after a round | 63 | up | C | 26% |
| 1 Dec 2025 | $550M | $121M – $888M | $459M (-16%) | after a round | 63 | up | C | 24% |
| 1 Jan 2026 | $549M | $95.9M – $832M | $482M (-12%) | after a round | 64 | up | D | 22% |
| 1 Feb 2026 | $572M | $93.2M – $853M | $514M (-10%) | after a round | 68 | up | D | 20% |
| 1 Mar 2026 | $584M | $89.7M – $856M | $531M (-9%) | after a round | 68 | up | D | 18% |
| 1 Apr 2026 | $593M | $86.0M – $857M | $545M (-8%) | after a round | 68 | up | D | 17% |
| 1 May 2026 | $643M | $84.6M – $916M | $614M (-4%) | after a round | 76 | up | D | 16% |
| 1 Jun 2026 | $646M | $81.1M – $910M | $618M (-4%) | after a round | 76 | up | D | 14% |
| 1 Jul 2026 | $656M | $77.8M – $912M | $632M (-4%) | after a round | 76 | up | D | 13% |
| 1 Aug 2026 | $754M | $239M – $980M | $748M (-1%) | after a round | 82 | growing | C | 8% |
| 1 Sep 2026 | $766M | $237M – $988M | $763M (0%) | after a round | 84 | growing | C | 8% |
| 1 Oct 2026 | $778M | $235M – $996M | $776M (0%) | after a round | 86 | growing | C | 7% |
| 24 Oct 2026 | $593M | $171M – $1.0B | $593M (0%) | after a round | 86 | growing | C | 0% |
Key facts about Ledn
- Founded
- 2018
- Headquarters
- George Town, Cayman Islands
- Employees
- about 86 +43% in a year
- Total raised
- $479M
- Funding rounds
- 5
- Last round
- Debt Sep 2026
Ledn was founded in 2018 by Adam Reeds and Mauricio Di Bartolomeo.
Ledn funding history
Ledn has 5 funding rounds on record, from Feb 2021 to Sep 2026, $479M in total. The latest disclosed valuation is $540M post-money (Series B, Dec 2021).
$188M
$188M
Series B 15 Dec 2021
Led by 50T Funds; with Golden Tree Asset Management, Raptor Group, FJ Labs, White Star Capital, Kingsway Capital, Coinbase Ventures, Alan Howard, Parafi Capital, Susquehanna Private Equity Investments, Global Founders Capital, Hashed, CMT Digital, Ascendant Capital, John Pfeffer.
Sources: prnewswire.com, nationalmortgageprofessional.com, betakit.com and 6 more
$70M
$540M post-money
Series A 26 May 2021
Led by Kingsway Capital; with Alan Howard, Seven Seven Six, Susquehanna Private Equity Investments, ParaFi Capital, Hashed.
Sources: betakit.com, theblock.co, osler.com and 1 more
$30M
$230M post-money
Seed 8 Feb 2021
Led by White Star Capital; with Darrow Holdings, Coinbase Ventures, Global Founders Capital, CMT Digital, Kingsway, Susquehanna International Group, RW3 Ventures.
Sources: betakit.com, theblock.co, bitcoinmagazine.com and 1 more
$2.7M
Ledn investors
22 investors have backed Ledn; Kingsway Capital, 50T Funds and White Star Capital led at least one round.
- Kingsway Capital lead, 2 rounds
- Alan Howard 2 rounds
- Coinbase Ventures 2 rounds
- ParaFi Capital 2 rounds
- Susquehanna Private Equity Investments 2 rounds
- Ascendant Capital
- Darrow Holdings
- FJ Labs
- Golden Tree Asset Management
- John Pfeffer
- Kingsway
- RW3 Ventures
- Seven Seven Six
- Susquehanna International Group
- White Star Capital
What Ledn does
Ledn works in loans & financing, with 13 recorded offerings and customers in financial services and digital assets.
Ledn Cayman SEZC Inc. is a Cayman-registered financial services company that operates as a virtual asset service provider. The company specializes in digital asset lending, savings, and trading products, including Bitcoin-backed loans, dual cryptocurrency notes, and growth accounts. Ledn also provides trade services and underwrites investment-grade bitcoin-backed bonds, utilizing asset-backed securities to support liquidity. The company is SOC 2 Type 2 certified and conducts independent Proof of Reserves attestation. Ledn serves Bitcoin holders, institutional investors, and financial services clients in over 120 countries.
Description from Veridion's company data.
Products and services
- Digital Asset Lending Services
- Bitcoin-Backed Loan Origination
- B2X Loan Origination
- Bitcoin-Backed Mortgage Origination
- Digital Asset Savings Account Services
- Digital Asset Trading Services
- Dual Cryptocurrency Note Issuance
- Investment-Grade ABS Bond Issuance
- Digital Asset Underwriting Services
- Asset-Backed Securities Structuring
- Independent Proof of Reserves Attestation
- Multi-Currency Financial Product Distribution
- Digital Asset Liquidity Solutions
Markets
- Financial Services
- Digital Assets
Certifications
- SOC 2 Type 2 certified
Business model
- Business-to-Business
- Business-to-Consumer
- Enterprise
Industry codes (NAICS)
- 522291 Consumer Lending 70% match
- 523999 Miscellaneous Financial Investment Activities 30% match
Questions about Ledn
What is Ledn worth?
Valuation $593M (range $171M to $1.0B), as of 24 Oct 2026. The last disclosed valuation was $540M (Series B, Dec 2021).
Has Ledn raised money?
Ledn has 5 funding rounds on record, from Feb 2021 to Sep 2026, $479M in total. The latest disclosed valuation is $540M post-money (Series B, Dec 2021).
Who has invested in Ledn?
Kingsway Capital, 50T Funds, White Star Capital, Alan Howard, CMT Digital and Coinbase Ventures, and 16 more. Lead investors include Kingsway Capital, 50T Funds and White Star Capital.
How many people work at Ledn?
About 86, up 43% over the last year. Headcount grew from 9 in Jan 2021 to 86 in Sep 2026.
What does Ledn do?
Ledn works in loans & financing, with 13 recorded offerings and customers in financial services and digital assets. Its main offerings are digital asset lending services, bitcoin-backed loan origination and B2X loan origination.
When was Ledn founded, and where is it based?
Ledn was founded in 2018 and is based in George Town, Cayman Islands. It has about 86 employees, up 43% over the last year.