Ledger is a private company that makes crypto hardware wallets and security tools for digital assets. It was founded in 2014 in Paris and serves users securing Bitcoin, Ethereum, and other cryptocurrencies.
Access to pre-IPO shares is available to accredited investors through UpMarket.
Latest Price
$1.5B
Series C, Jun 2021, Perplexity
UpMarket Estimate
$1.4B
Based on UpMarket valuation model
How to Invest in Ledger Through UpMarket
Ledger shares are not on public exchanges. UpMarket provides accredited investors access through secondary market transactions.
Step 01
Verify accredited investor status
Confirm eligibility under SEC Rule 501 of Regulation D. Income or net worth threshold applies.
Step 02
Create an UpMarket account
Complete KYC/AML onboarding. Typically 1–2 business days. Licensed rep assigned on signup.
Step 03
Review available Ledger offerings
Full offering memoranda and risk disclosures provided before any commitment is required.
Step 04
Complete subscription documents
Review and sign subscription agreement. All documents handled digitally through the platform.
Step 05
Fund your investment
Wire transfer or ACH. $50K minimum. Funds held in custodial account until close.
Pre-IPO investments are illiquid, speculative, and involve risk of total loss of capital.
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Valuation Growth Over Time
Post-money valuation by round
Previous roundsMost recent
Date
Round
PPS (split-adj.)
Valuation
Jun 2021
Series C
$1.5B
Ledger Revenue and Growth
Annual revenue
Why Investors Are Watching Ledger
Growth Signal
Ledger reportedly weighs a $4B+ U.S. IPO
Financial Times reports Ledger has engaged Goldman Sachs, Jefferies and Barclays to explore a U.S. listing that could value it above $4 billion. That would be a sharp step up from its $1.3 billion post-money valuation in March 2023.
Market Opportunity
Hack-driven demand may expand hardware wallet sales
AInvest says Ledger's CEO has tied rising revenue to more crypto hacks, arguing each high-profile exploit increases demand for secure self-custody. The same report says Ledger secures more than $100 billion in Bitcoin custody, highlighting the scale of the market it serves.
Competitive Moat
Ledger has raised $575M and built a leading crypto brand
Quantumrun says Ledger has completed seven funding rounds and raised $575 million since its 2014 founding. It also cites a March 2023 $109 million Series C extension at a $1.3 billion post-money valuation, underscoring persistent investor support.
Interested in Ledger stock? Fill out the form above or sign up directly. Subject to availability. Accredited investors only.
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No. As of March 2026, Ledger is a private company and does not trade on any public stock exchange. Accredited investors can access Ledger shares through UpMarket, a FINRA-registered broker-dealer that specializes in pre-IPO investments.
Ledger does not have a public stock price because it is privately held. The most recent known share price comes from its last funding round. Pre-IPO share prices on the secondary market may differ from the last round price depending on supply, demand, and market conditions.
Yes. Accredited investors can indicate interest in Ledger shares through UpMarket by filling out the form on this page or creating an account at upmarket.co. All pre-IPO offerings are subject to availability and require a $50,000 minimum investment. UpMarket is a FINRA-registered broker-dealer and has brokered more than $500M in alternative investments since 2019.
Pre-IPO investments carry significant risks. Ledger shares are illiquid, meaning there is no public market to sell them quickly. There is no guaranteed exit timeline or return. The investment is speculative in nature, and investors should be prepared for the possibility of total loss. Valuations of private companies can fluctuate substantially between funding rounds. Investors should consult their financial advisor and review all offering documents before investing.
In a pre-IPO transaction, accredited investors purchase shares from existing shareholders (such as employees, early investors, or other holders) through secondary market platforms. The company itself does not issue new shares in these transactions. UpMarket facilitates these trades as a FINRA-registered broker-dealer, handling compliance, documentation, and settlement on behalf of both parties.
There are two primary exit paths for pre-IPO holdings: selling your shares on the secondary market to another buyer, or holding until the company completes an IPO or is acquired. Both paths are subject to transfer restrictions, company approval (right of first refusal), and market conditions. The timing of any exit is unpredictable, and investors should plan for a multi-year holding period.
The minimum investment for most pre-IPO offerings on UpMarket is $50,000. This amount may vary depending on the specific offering and share availability. There are no fees to create an UpMarket account or browse available investments. Investors only pay transaction-related fees when they complete an investment.
UpMarket's valuation estimate of is derived from a proprietary model that incorporates multiple data sources: funding round data (Caplight), revenue estimates (Sacra), secondary market pricing, and public company comparables. The model applies a private company discount to the public comp multiple to account for illiquidity and information asymmetry. This estimate is not investment advice and may differ substantially from the price at which shares actually trade.
Ledger makes crypto hardware wallets and digital asset security tools, generating $70.9M in 2024 revenue and valued at $1.4B, with reports it is weighing a $4B+ U.S. IPO — accredited investors can access Ledger stock through UpMarket.