Leyden, a cryptocurrency lending and savings platform based in Canada, has managed to raise $ 30 million in its latest funding round. The money raised will be used to expand its offering of lending products and expand its reach to more countries. Leyden can take advantage of the recent problems that one of its contenders, Blockfi, is now facing in order to increase its stake in the sector.
Leyden raised $ 30 million in latest funding
A Canadian-based cryptocurrency lending platform, Leyden managed to raise $ 30 million in its Series A funding round, an increase of more than tenfold from its first funding round. The round was led by London-based investment firm Kingsway Capital, which focuses on digital assets and mobile Internet investment.
Other investors in this round were also involved: Alan Howard, Hashed, Sushekhana Private Equity Investments LLLP, Paraphy Capital, Alexis Ohanian and John Feifer. According to the press release Statement, All the first supporters of the company also participated in it. This is the second successful funding round hosted by Leyden, with the first one The establishment $ 2.7 million last February. Since then, the company has grown significantly with the bitcoin bull market.
The CEO of Leyden, Adam Reeds, stated that its priority is to capture markets with large growth potential. Reeds said:
With this new injection of capital, we will expand our success in North and South America and increase our global footprint, prioritizing growth markets. Our focus is on creating simple and secure solutions that allow customers to participate in the growing digital asset economy in a way that meets their individual needs and meets our own rigorous standards for security and reliability.
Leyden’s CSO Mauricio Di Bartolomeo stated the importance of Leyden’s offer to emerging markets such as Venezuela, where he grew up. Di Bartolomeo announced:
Growing up in Venezuela, I first saw how an unregulated system with little or no transparency can affect its people, and so it is such a core component that we entrust our customers to us How to manage money
Leyden’s Focus Market
Leyden’s focus on emerging markets sets him apart from most of his competitors. Its focus is to take these financial opportunities to unbanked people, incorporating them into a new system. This is why Kingsway Capital has put its trust behind Leyden. Kingsway Capital founder Manuel Stotz announced:
After spending nearly a decade investing in emerging and leading markets, we have first-hand experience of the power of disruptive technologies offered to billions of consumers coming online.
Chance to get bitcoin (B T c) And Fixed coins There is a huge opportunity for investors in these new markets through an established platform. And with this money inflow, Leyden may have the manpower to take on big players in the business, such as Blockfi, who have faced some The issues After a series of mistakes, which have eroded some customers’ trust on the platform.
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