According to a Bloomberg report, Ledger is likely to wrangle a higher valuation compared to its previous funding.

A Bloomberg report says Ledger, the French crypto wallet maker, is in talks to raise a minimum of $100 million from strategic investors. The company previously raised a $380 million Series C in June 2021 at a valuation exceeding $1.5 billion, and this may not be the best of times to raise financing given the dire state of the digital assets market.

However, sources told Bloomberg that the troubles at various crypto players including Voyager Digital (TSE: VOYG), Celsius Network, and Zipmex have actually played into Ledger’s hands because more people want to self-custody their crypto coins on a personal wallet rather than hand them over to a third party.

Ledger was founded in 2015 by Éric Larchevêque and Thomas France, according to Bitcoin.com, and has now achieved the stature of a top global crypto hardware wallet manufacturer. The Nano S Plus and the Nano X series hardware wallets are Ledger’s top selling products and retail for prices between $79 to $149 before taxes. Both wallets can store, send and receive various digital currencies.

Ledger claims it safeguards 20% of the world’s digital assets in more than 5 million wallets.

Last week, Ledger launched a new NFT (non-fungible token) marketplace meant to serve fashion and luxury brands, charities and financial institutions. Dubbed [L] Market, its launch partners include Tag Heuer of LVMH and NFT projects such as RTFKT and DeadFellaz. The company has also launched its own Artist in Residence program.

Related Story: Ledger, The Hardware Wallet Maker For Crypto, Nabs $380M