Exclusive. Deblock raises $12 million

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Thursday, April 20, 2023

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.

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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This analysis is not investment advice. It has been prepared without taking into account your personal situation, particularly your financial situation, risk profile, and investment objectives.

Before investing in any product, investors should fully understand the risks involved and consult their own legal, tax, financial, and accounting advisors.

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