Bitcoin-backed lender Ledn raises $1.55 mln in seed round

Ledn Inc, a Toronto cryptoasset-backed lender, has raised $1.55 million in a seed-stage financing. The round was led by Andrew Clark, co-CEO of Spark Power Group Inc, and Someren Capital. As a result, Clark will join the company's advisory board. Founded by CEO Adam Reeds and CSO Mauricio Di Bartolomeo, Ledn's platform allows users to borrow Canadian dollars using Bitcoin as collateral. It plans to launch a new website application this fall. Ledn will use the funds raised to further develop the platform and expand its cryptoasset-backed lending operations in Canada.

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