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Exclusive. Deblock raises $12 million
Launched by former employees of fintech Revolut, Deblock is a Franco-British crypto neo-banking project. The application should be available by the end of the year.
Is it because they were disappointed by Revolut's crypto ambitions? A few months ago, several former employees of the British fintech launched Deblock, a sort of crypto neo-bank. The application is not yet available, but the team has given itself the means to fulfil its ambitions, having raised $12 million, according to our information.
The funding round was completed a few months ago.
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A number of funds including Hoxton, 20VC and Kraken Ventures have invested in the Franco-British start-up. Several figures from the French ecosystem, such as Thomas France (co-founder Ledger) and Nicolas Julia (co-founder Sorare) are also investors.
The aim of Deblock, which should be available first in France in the third quarter, is to offer a banking application with a non-custodial crypto wallet system (i.e. you will be the only person to have control over your funds) in addition to a traditional current account (with an IBAN). This system is supposed to allow you to move from the crypto world to the fiat (euro) world without too much friction. The start-up also wants to launch a payment card.
Founded by Jean Meyer (ex-Head of crypto at Revolut), Aaron Beck (ex-Revolut), Mario Alebicto (ex-Ledger and Revolut), and Adriana Restrepo (ex-COO of Revolut) who joined them at the end of 2022, Deblock has submitted several applications to obtain licences in France and the UK. These relate to digital asset service provider (DASP) and electronic money institution licences.
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